Why is Choksi Laborator falling/rising?

As of 02-Jul, Choksi Laboratories Ltd is experiencing a decline in its stock price, currently at Rs 194.00, which reflects a decrease of Rs 3.95 or 2.0%. Today's performance indicates that the stock has underperformed its sector by 1.25%, opening with a loss of 2% and touching an intraday low of Rs 194. Despite this drop, the stock has shown strong performance over the past year, with a return of 251.45%, and it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 261.76% against the 5-day average, indicating ongoing interest in the stock. The company's attractive valuation, with a return on capital employed (ROCE) of 9.4 and a PEG ratio of 2.4, suggests that it is trading at a discount compared to its peers.
In the broader market context, Choksi Laboratories has outperformed the benchmark index, with a 1-week return of 12.79% compared to the Sensex's 0.79%, and a year-to-date return of 158.43% against the Sensex's 6.75%. This strong performance in the long term and near term highlights the stock's resilience despite today's decline. The recent increase in institutional investor participation, with a 1.94% rise in stakes over the previous quarter, further supports the stock's fundamentals. However, the stock's recent trend reversal after three consecutive days of gains and its current position just 2.04% away from its 52-week high may have contributed to the short-term price decline.