Why is C P C L falling/rising?

As of 08-Jul, Chennai Petroleum Corporation Ltd is experiencing a decline in its stock price, currently at 734.20, which reflects a decrease of 4.15 (-0.56%). The stock has underperformed its sector by 0.57% today and has been on a downward trend for the last two days, resulting in a total decline of 4.78% during this period. Despite this recent drop, the stock has shown strong performance over the past month with a return of 13.23% and a year-to-date increase of 17.17%. However, it is important to note that the stock has generated a negative return of 24.61% over the past year, coinciding with a significant profit decline of 92.2%. The stock's high dividend yield of 7.45% and attractive valuation metrics, such as a high ROCE of 23.43%, suggest underlying strengths, but the recent price movement indicates a struggle in investor sentiment, possibly exacerbated by falling delivery volumes.
In the broader market context, the Sensex has shown minimal movement with a slight increase of 0.02% over the past week, contrasting with the stock's recent decline. While the stock has outperformed the benchmark significantly over longer periods, such as a 176.43% increase over three years, the short-term performance indicates a divergence from the overall market trend. The stock's recent underperformance, combined with a decrease in investor participation and consecutive price falls, suggests that market conditions may be affecting investor confidence in the stock, despite its strong fundamentals and high management efficiency.