Why is CEAT falling/rising?

As of 24-Jul, CEAT Ltd's stock price is currently at Rs 3,357.00, reflecting a decrease of Rs 138.0 or 3.95%. The stock has underperformed its sector by 3.75% today, having touched an intraday low of Rs 3,333, which represents a decline of 4.64%. Over the past week, CEAT has seen a significant drop of 12.92%, while its performance over the last month shows a decrease of 5.80%. Despite a strong long-term growth outlook, with net sales growing at an annual rate of 17.13% and operating profit at 19.67%, the stock's profits have fallen by 32.9% over the past year. Additionally, the stock is trading at a discount compared to its peers, but the recent decline in delivery volume by 51.83% against the 5-day average indicates falling investor participation, which may be contributing to the downward price movement. In the broader market context, CEAT's recent performance contrasts sharply with the benchmark Sensex, which has remained relatively stable, showing only a 0.09% decline over the past week. While CEAT has outperformed the BSE500 over the last three years, one year, and three months, the current short-term underperformance suggests a divergence from the overall market trend. The high institutional holdings at 37.47% indicate confidence from larger investors, but the recent decline in stock price may reflect concerns over the company's profitability despite its attractive long-term growth potential.