Why is Gravita India falling/rising?

As of 13-Jun, Gravita India Ltd's stock price is currently at Rs 1,759.35, reflecting a decline of Rs 45.65 or 2.53%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 4.99% during this period. It opened with a loss of 2.48% today and reached an intraday low of Rs 1,751.5. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite the company's strong financial health, with a high return on capital employed (ROCE) of 20.88% and consistent net profit growth, the stock has experienced a significant year-to-date decline of 19.72%, contrasting sharply with its impressive long-term performance over the past three years.
In the broader market context, Gravita India's short-term performance has been notably weaker than the benchmark Sensex, which has only declined by 1.30% over the past week. The stock's recent underperformance is further highlighted by a 6.55% drop over the last week compared to the Sensex's minor decrease. This trend of falling investor participation, as evidenced by a 29.06% drop in delivery volume, coupled with the stock's inability to maintain momentum despite positive quarterly results, suggests that market sentiment may be shifting negatively. Overall, while the company has demonstrated strong operational efficiency and growth, the current market conditions and recent price movements indicate a challenging environment for Gravita India Ltd.