Why is Cochin Shipyard falling/rising?

As of 12-Jun, Cochin Shipyard Ltd's stock price is currently at Rs 2,129.75, reflecting a decline of Rs 64.35 or 2.93%. The stock has been experiencing a downward trend, having lost 10.99% over the last four days. Today's trading saw the stock reach an intraday high of Rs 2,250 but also dip to a low of Rs 2,115. The weighted average price indicates that more volume was traded closer to the low price. Despite a strong performance over the past year with a return of 11.92%, the stock's recent performance has been affected by a significant drop in investor participation, with delivery volume falling by 53.73% compared to the five-day average. The company maintains a low debt-to-equity ratio and has reported positive financial results, which could support its long-term outlook despite the current decline.
In the broader market context, Cochin Shipyard's recent performance contrasts sharply with the benchmark Sensex, which has gained 0.31% over the past week while the stock has fallen by 9.38%. This divergence suggests that the stock's recent struggles may be more company-specific rather than reflective of the overall market trend. The shipbuilding sector, in which Cochin Shipyard operates, has also seen a decline of 2.91%, further contributing to the stock's downward movement. While the company has demonstrated consistent returns over the past three years and outperformed the BSE 500, the current market conditions and reduced investor activity are likely influencing the stock's recent price drop.