Why is Balkrishna Inds falling/rising?

As of 03-Sep, Balkrishna Industries Ltd is experiencing a slight increase in its stock price, currently at 2,362.10, reflecting a change of 5.6 or 0.24% upward. The stock has shown a positive performance today, outperforming its sector by 1.34% and has been gaining for the last three days with a total return of 2.92% during this period. However, it is important to note that the stock has underperformed over the longer term, with a year-to-date decline of 18.83% and a one-year return of -19.32%. Despite high management efficiency and strong institutional holdings, the company has faced negative results recently, including a significant drop in profit before tax and a decline in profit after tax, which may be contributing to investor caution.
In the broader market context, the stock's short-term return of +1.63% over the past week contrasts with a slight decline of -0.27% in the Sensex, indicating a relative strength in the stock compared to the overall market. However, the stock's long-term performance has been lackluster, with a three-year return of +18.56% compared to the Sensex's +37.01%. This underperformance, coupled with a high valuation relative to its peers and declining investor participation, suggests that while there may be short-term gains, the overall sentiment towards Balkrishna Industries Ltd remains cautious.