Why is Elecon Engg.Co falling/rising?

As of 07-Aug, Elecon Engineering Company Ltd's stock is currently priced at 556.00, reflecting a decrease of 6.55, or 1.16%. The stock has been experiencing a downward trend, having fallen for the last two days with a total decline of 2.88% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. The stock's performance over the past week shows a decline of 2.92%, and over the past month, it has decreased by 13.54%. Despite the company's high management efficiency, indicated by a return on equity (ROE) of 16.24%, and a low debt-to-equity ratio of 0.05, the stock's valuation appears expensive with a price-to-book value of 6.2, contributing to its recent price drop.
In the broader market context, Elecon Engineering's short-term performance has been worse than the benchmark index, Sensex, which has only declined by 0.69% over the same week. The stock's year-to-date performance is also concerning, with a decline of 12.41%, while the Sensex has gained 3.18%. This underperformance may be attributed to falling investor participation, as evidenced by a 25.15% drop in delivery volume compared to the 5-day average. Although the company has shown healthy long-term growth with an annual operating profit increase of 59.81%, the recent negative sentiment and valuation concerns are overshadowing these positive factors, leading to a decline in the stock price.