Why is CEAT falling/rising?

As of 21-Aug, CEAT Ltd's stock price is currently at 3,178.00, reflecting a decrease of 18.5 points or 0.58%. The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 1.71% during this period. While the stock's performance today is in line with the sector, it is noteworthy that the delivery volume has decreased significantly by 43.32% compared to the five-day average, indicating falling investor participation. In terms of returns, CEAT has shown a positive performance over the past week with a gain of 2.72%, but it has underperformed over the last month with a decline of 11.75%. Despite a strong long-term growth outlook, with net sales and operating profit growing at annual rates of 17.13% and 19.67% respectively, the stock's profits have fallen by 32.9% over the past year, which may be contributing to the current price decline. In the broader market context, CEAT's recent performance contrasts with the benchmark Sensex, which has gained 1.74% over the past week. Although CEAT has outperformed the market over the past year with a return of 12.60%, the stock is currently trading at a discount compared to its peers' average historical valuations, which may attract long-term investors. The stock's high institutional holdings at 37.47% suggest that these investors, who typically have better resources to analyze company fundamentals, are maintaining their positions, having increased their stake by 0.68% in the previous quarter. However, the overall market has seen negative returns of -1.56% in the last year, which may also be influencing investor sentiment and contributing to the stock's recent decline.