Why is Elecon Engg.Co falling/rising?

As of 21-Aug, Elecon Engineering Company Ltd's stock price is currently at Rs 565.00, reflecting a decrease of Rs 11.65 or 2.02%. Today's price summary indicates that the stock has underperformed its sector by 1.77% and has experienced a trend reversal, falling after three consecutive days of gains. The stock touched an intraday low of Rs 563.5, and its delivery volume has decreased by 7.85% compared to the five-day average, suggesting a decline in investor participation. Over the past month, the stock has seen a decline of 6.16%, while it has performed positively over the past week with a return of 2.36%. Despite the recent downturn, the company demonstrates strong fundamentals, including a high return on equity of 16.24% and a low debt-to-equity ratio of 0.05 times, indicating financial stability.
In the broader market context, Elecon Engineering's short-term performance has been better than the benchmark Sensex, which has increased by 1.74% over the past week, while Elecon's stock rose by 2.36%. However, the stock's year-to-date performance shows a decline of 10.99%, contrasting with the Sensex's gain of 4.94%. This disparity highlights the stock's struggles despite its strong operational growth, including a significant annual increase in operating profit of 59.81% and a 43.36% growth in profit after tax over the latest six months. The combination of recent price declines, reduced trading volume, and the overall market conditions may be contributing to the stock's current downward movement.