Why is CEAT falling/rising?

As of 07-Aug, CEAT Ltd's stock price is currently at 3,212.60, reflecting a decrease of 8.85 points or 0.27%. The stock's performance today is in line with the sector, although it is trading lower than its 5-day, 20-day, 50-day, and 100-day moving averages, while remaining above the 200-day moving average. Notably, there has been a significant increase in investor participation, with delivery volume rising by 126.93% against the 5-day average. Over the past week, the stock has declined by 3.00%, and over the past month, it has seen a more substantial drop of 12.44%. Despite a strong annual return of 19.55%, the company's profits have decreased by 32.9%, which may be contributing to the recent downward pressure on the stock price.
In the broader market context, CEAT's short-term performance has been notably weaker than the benchmark, with the Sensex declining by only 0.69% over the past week and 3.38% over the past month. While CEAT has shown healthy long-term growth with net sales increasing at an annual rate of 17.13% and a return on capital employed (ROCE) of 14.1%, the stock is currently trading at a discount compared to its peers. High institutional holdings at 37.47% indicate confidence among larger investors, who have increased their stake by 0.68% over the previous quarter. However, the combination of falling profits and recent price declines may be causing caution among investors, leading to the stock's current downward movement.