Why is Elecon Engg.Co falling/rising?

As of 31-Jul, Elecon Engineering Company Ltd's stock is currently priced at Rs 572.75, reflecting a decrease of Rs 6.85 or 1.18%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 1.93%. It has also touched an intraday low of Rs 565.15, indicating a drop of 2.49%. Over the past week, the stock has decreased by 2.86%, and over the past month, it has seen a significant decline of 9.61%. Despite some positive indicators such as a high return on equity (ROE) of 16.24% and a low debt-to-equity ratio of 0.05, the stock's performance has been hampered by a decrease in investor participation, with delivery volume falling by 37.68% compared to the five-day average.
In the broader market context, Elecon Engineering's recent performance contrasts with the Sensex, which has only declined by 1.22% over the past week and 3.00% over the past month. This indicates that the stock is underperforming relative to the benchmark index. While the company has shown healthy long-term growth with an annual operating profit increase of 59.81% and positive quarterly results, these factors have not been sufficient to counteract the recent downward trend in stock price. The overall market sentiment and the stock's inability to maintain momentum against the benchmark may be contributing to its current decline.