Why is Elgi Equipments falling/rising?

As of 13-Aug, Elgi Equipments Ltd is experiencing a decline in its stock price, currently at 500.05, which reflects a decrease of 19.95 or 3.84%. The stock has underperformed its sector by 3.97% today, reaching an intraday low of Rs 499.3. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The stock has shown negative returns over various periods, including a 1-week decline of 8.37% and a year-to-date drop of 13.54%. Despite these challenges, the company maintains a high management efficiency with a return on capital employed (ROCE) of 21.98%, a low debt-to-EBITDA ratio of 0.44, and strong operating profit growth, which suggests a solid long-term outlook.
In the broader market context, the Sensex has remained relatively stable with a negligible change of -0.01% over the past week, contrasting with Elgi Equipments' significant decline. The stock's performance over the last month shows a drop of 9.26%, while the benchmark has only decreased by 2.38%. This underperformance highlights the stock's struggles in the current market environment, despite its strong fundamentals and high institutional holdings of 32.84%. The falling investor participation, with a notable 41.85% decrease in delivery volume compared to the 5-day average, further exacerbates the stock's downward movement, indicating a lack of confidence among investors.