Why is Elecon Engg.Co falling/rising?

As of 23-Sep, Elecon Engineering Company Ltd is experiencing a decline in its stock price, currently at 606.90, which reflects a decrease of 5.25 points or 0.86%. The stock has underperformed its sector by 1.32% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 2.38% during this period. While the stock has shown a positive return of 9.08% over the past month, it has a year-to-date decline of 4.39% and a one-year decline of 7.76%. Despite having a high management efficiency with a return on equity of 16.24% and a low debt-to-equity ratio of 0.05, the stock's recent performance has been negatively impacted by a significant drop in investor participation, as evidenced by a 43.44% decrease in delivery volume compared to the five-day average.
In the broader market context, the stock's short-term performance over the past week shows a decline of 2.86%, while the benchmark Sensex has only decreased by 0.34%, indicating a relative underperformance. The stock's liquidity remains adequate for trading, but the recent trend of falling investor participation may suggest a lack of confidence among investors. Although the company has demonstrated healthy long-term growth with an operating profit growth rate of 59.81% and positive quarterly results, the current downward movement in stock price reflects a combination of short-term challenges and market sentiment that may be weighing on investor confidence.