Why is Elecon Engg.Co falling/rising?

As of 08-Aug, Elecon Engineering Company Ltd is experiencing a decline in its stock price, currently at 540.55, which reflects a decrease of 15.45 or 2.78%. The stock has underperformed its sector by 1.39% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 5.58% during this period. Additionally, the stock has shown poor performance over the past month, with a decrease of 15.57%, while the year-to-date return stands at -14.84%. Despite a high management efficiency indicated by a return on equity of 16.24% and a low debt-to-equity ratio, the stock's valuation appears expensive with a price-to-book value of 6.1, contributing to the negative sentiment surrounding it.
In the broader market context, Elecon Engineering's short-term performance has significantly lagged behind the benchmark Sensex, which has only declined by 0.92% over the past week. The stock's recent struggles are further highlighted by its trading below all key moving averages, indicating a bearish trend. While the company has shown healthy long-term growth with an operating profit growth rate of 59.81% and positive cash flow results, the overall market sentiment and the stock's high valuation relative to its peers may be contributing to the current downward pressure on its price.