Why is Elgi Equipments falling/rising?

As of 15-Sep, Elgi Equipments Ltd is experiencing a decline in its stock price, currently at 465.00, which reflects a decrease of 3.35 points or 0.72%. The stock has underperformed its sector by 1.48% today and has been on a downward trend for the last two days, accumulating a total loss of 1.28%. Over the past week, the stock has decreased by 2.11%, and it has seen a significant drop of 35.62% over the past year. Despite some positive indicators such as high management efficiency and strong operating profit growth, the stock's high valuation and poor long-term performance have contributed to its recent decline.
In the broader market context, Elgi Equipments' performance contrasts sharply with the Sensex, which has gained 1.24% over the past week. The company's returns have lagged behind the benchmark significantly, with a year-to-date decline of 19.60% compared to the Sensex's increase of 4.67%. This underperformance is compounded by a high Price to Book Value ratio and a PEG ratio of 3.4, indicating that the stock may be overvalued relative to its earnings growth. While there is rising investor participation, as evidenced by increased delivery volume, the overall sentiment remains negative due to the stock's consistent underperformance against both its peers and the broader market.