Why is Eicher Motors falling/rising?

As of 29-Aug, Eicher Motors Ltd is experiencing a decline in its stock price, currently at Rs 6,082.00, which reflects a decrease of Rs 57.5 or 0.94%. The stock has underperformed its sector by 0.71% today and has been on a consecutive downward trend for the last two days, resulting in a total return drop of 1.12%. Despite this recent decline, Eicher Motors has shown strong performance over longer periods, with a 1-month return of 11.02% and a year-to-date return of 26.04%. The company is trading above its moving averages, indicating a generally positive trend, but a significant drop in delivery volume by 26.69% against the 5-day average suggests reduced investor participation, which could be contributing to the current price decline.
In the broader market context, Eicher Motors has outperformed the Sensex over various time frames, including a 24.11% return over the past year compared to the Sensex's decline of 2.83%. This strong performance is supported by the company's low debt levels and robust long-term growth fundamentals, including a healthy annual sales growth rate and a high return on equity. However, the stock's recent price movement may be influenced by concerns over its valuation, as indicated by a high Price to Book Value ratio and a relatively flat performance in the latest quarterly results. The combination of these factors suggests that while Eicher Motors has strong fundamentals, the recent price decline may be a reaction to short-term market dynamics and investor sentiment.