Why is BHEL falling/rising?

As of 31-Jul, Bharat Heavy Electricals Ltd. (BHEL) is experiencing a decline in its stock price, currently at 238.30, reflecting a decrease of 3.3 points or 1.37%. The stock has fallen after two consecutive days of gains and has underperformed the market, with a 1-week return of -5.02% compared to the Sensex's -1.22%. Additionally, the stock's delivery volume has decreased significantly, down 40.03% from the 5-day average, indicating falling investor participation. Although the company has shown healthy long-term growth with a 27.04% annual increase in operating profit and a low debt-to-equity ratio, it is facing challenges due to its high valuation metrics, including a Price to Book Value of 3.4, which is considered expensive relative to its peers.
Broader market context shows that BHEL has underperformed significantly over the past year, with a return of -24.47% against the broader market's negative return of -3.20%. Despite a year-to-date return of +3.92%, the stock's longer-term performance has raised concerns among investors, particularly given its low return on equity of 2.2 and a PEG ratio of 0.6. The high institutional ownership at 24.86% suggests that knowledgeable investors are closely monitoring the stock, but the recent price movement indicates a lack of confidence in its valuation and growth prospects in the short term.