Why is CEAT falling/rising?

As of 31-Jul, CEAT Ltd's stock price is currently at Rs 3,312.00, reflecting a decline of Rs 77.45 or 2.29%. The stock has experienced a downward trend after two consecutive days of gains, touching an intraday low of Rs 3,302.2. The performance today aligns with the sector, which has seen a decline of 2.2%. Over the past week, CEAT's stock has decreased by 1.34%, and over the past month, it has fallen by 9.54%. Despite a strong long-term growth outlook, with net sales increasing at an annual rate of 17.13% and a return on capital employed (ROCE) of 14.1, the stock's profits have decreased by 32.9% over the past year, contributing to its recent price drop. In the broader market context, CEAT's short-term performance has lagged behind the benchmark, with the Sensex declining by 1.22% over the same week. While CEAT has outperformed the market over the past year with a return of 22.53% compared to the Sensex's -0.68%, the recent negative movement reflects broader sector challenges and investor sentiment. Additionally, the stock's liquidity remains adequate, with a notable increase in delivery volume, indicating rising investor participation despite the current price decline.