Why is Graphite India falling/rising?

As of 17-Jul, Graphite India Ltd. is experiencing a decline in its stock price, currently at 578.00, which reflects a decrease of 9.2 points or 1.57%. Today's performance indicates that the stock has underperformed its sector by 2.78%, despite trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock has shown positive returns over the past week and month, with increases of 2.26% and 8.04%, respectively. However, there has been a notable drop in investor participation, as delivery volume fell by 16.7% compared to the 5-day average. While the company has a low debt-to-equity ratio and has reported strong growth in profit before tax and profit after tax, the high valuation metrics and a relatively low return on equity may be contributing to the current price decline.
In the broader market context, Graphite India's short-term performance has outpaced the Sensex over the past week, where the stock gained 2.26% compared to the benchmark's decline of 1.12%. However, the year-to-date performance shows that while the stock has increased by 2.57%, it lags behind the Sensex's 5.27% gain. The increasing stake of institutional investors, who now hold 15.97% of the company, suggests a positive outlook from more sophisticated market participants. Nonetheless, the stock's high dividend yield and low PEG ratio indicate that while it may be undervalued compared to peers, the market's perception of its valuation remains cautious, potentially influencing the recent downward price movement.