Why is Emk.Global Fin. falling/rising?

As of 18-Jul, Emkay Global Financial Services Ltd's stock price is currently at 258.60, reflecting a decrease of 3.45, or 1.32%. The stock has underperformed its sector today by 1.03% and opened with a loss of 2.31%. It reached an intraday low of Rs 254.85, indicating a challenging trading session. Despite this, the stock has shown strong performance over the past year with a return of 51.54%, significantly outpacing the benchmark Sensex, which has only gained 0.51% in the same period. However, the stock's year-to-date performance is concerning, with a decline of 17.96%. The company's return on equity (ROE) is reported at 22.4, suggesting an attractive valuation, but the recent financial results indicate weaknesses, including a 25.27% decline in profit after tax over the last six months.
In the broader market context, Emkay Global's short-term return of 0.23% over the past week contrasts with the Sensex's decline of 0.90%, indicating relative strength in the short term. However, the stock's long-term performance has been impressive, with a 278.62% increase over three years, outperforming the benchmark. Despite these positive long-term trends, the stock's recent decline may be attributed to weak fundamentals, including a low average ROE of 10.86% and disappointing quarterly results, which have led to reduced investor participation, as evidenced by a 17.44% drop in delivery volume. Additionally, the lack of investment from domestic mutual funds may reflect a lack of confidence in the stock's current valuation or business prospects.