Why is Choksi Laborator falling/rising?

As of 29-Aug, Choksi Laboratories Ltd is currently priced at 204.95, reflecting a decline of 8.05 or 3.78%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decrease of 8.93% during this period. It has also touched an intraday low of Rs 200, indicating significant selling pressure. Despite a strong performance over the past year with a return of 167.56%, the stock has recently underperformed its sector by 3.16%. The decline in delivery volume by 2.94% against the 5-day average suggests a decrease in investor participation, which may be contributing to the downward price movement.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with a 1-week return of -6.82% compared to the Sensex's -1.84%. While institutional investors have increased their stake by 2.37% over the previous quarter, indicating a positive outlook from more sophisticated market participants, the stock's recent price action reflects a lack of momentum. The company maintains a strong valuation with a ROCE of 9.5 and a PEG ratio of 3.4, suggesting it is trading at a discount compared to peers. However, the recent price decline and falling investor participation may overshadow these positive fundamentals in the short term.