Why is DDev Plastiks falling/rising?

As of 01-Aug, DDev Plastiks Industries Ltd is currently priced at 293.95, reflecting a decline of 6.5 points or 2.16%. The stock has been on a downward trend, experiencing a consecutive fall for the last three days, resulting in a total return of -4.92% during this period. It opened the day with a loss of 2.05% and reached an intraday low of Rs 292.35. Despite this decline, the stock has shown a positive performance over the past month with a return of +9.64%, although it has underperformed over the last year with a return of -28.57%. The company maintains a low Debt to Equity ratio and has demonstrated healthy long-term growth, with operating profit increasing at an annual rate of 39.27%. Additionally, institutional investors have increased their stake, indicating growing confidence in the company's fundamentals.
In the broader market context, DDev Plastiks has underperformed compared to the Sensex, which has seen a decline of only 1.06% over the past week while DDev Plastiks fell by 4.99%. This suggests that the stock's recent struggles may be more pronounced than the overall market trend. However, the stock has outperformed the benchmark on a year-to-date basis, with a return of +6.76% compared to the Sensex's +3.15%. The increasing participation from institutional investors, who have raised their stake by 0.63%, may provide some support for the stock moving forward, despite its current price decline.