Why is Engineers India falling/rising?

As of 01-Jul, Engineers India Ltd. is currently priced at 238.35, reflecting a decrease of 2.35, or 0.98%. The stock has underperformed its sector by 0.29% today and has experienced a trend reversal after two consecutive days of gains. Despite this decline, the stock has shown positive performance over the past week and month, with returns of 1.73% and 4.08%, respectively. However, it has underperformed over the past year with a return of -6.99%. The company has demonstrated strong management efficiency with a high return on equity (ROE) of 16.04% and significant growth in net profit of 158.44%, but it also faces challenges such as poor long-term growth in net sales and a high valuation compared to its peers.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has returned 2.00% over the past week and 2.76% over the past month. While Engineers India has shown impressive returns over the longer term, including a 305.36% increase over the past three years, its recent struggles highlight a disconnect with the overall market performance. The stock's negative return of -6.99% over the past year indicates that it has significantly lagged behind the broader market, which has generated a return of 3.20% in the same period. This underperformance, coupled with the stock trading at a premium valuation, may contribute to the recent decline in price.