Why is Elecon Engg.Co falling/rising?

As of 06-Aug, Elecon Engineering Company Ltd is experiencing a decline in its stock price, currently at Rs 562.10, which reflects a decrease of Rs 10.4 or 1.82%. The stock has underperformed its sector by 0.43% today and has fallen after two consecutive days of gains. It touched an intraday low of Rs 558.65, indicating a drop of 2.42%. Additionally, the stock is trading below its moving averages across various time frames, and there has been a significant decrease in investor participation, with delivery volume falling by 24.25% compared to the five-day average. Over the past week, the stock has declined by 3.02%, and it has also seen a substantial drop of 13.10% over the past month, contrasting with the Sensex's decline of only 1.15% during the same period.
In the broader market context, while Elecon Engineering has shown impressive long-term growth with a 3-year return of 227.18% and a 5-year return of 4291.41%, its recent performance has been lackluster compared to the benchmark. The Sensex has gained 3.08% year-to-date, while Elecon's stock has decreased by 11.45%. Despite positive factors such as high management efficiency and low debt levels, the stock is considered expensive with a high Price to Book Value ratio of 6.3, which may deter investors. The company's recent profit growth of 26.1% has not translated into significant stock price appreciation, leading to a stagnant return of 0.02% over the past year, further contributing to the current downward trend.