Why is Gravita India falling/rising?

As of 14-Aug, Gravita India Ltd's stock price is currently at 1,778.90, reflecting a decrease of 3.1 points or 0.17%. The stock has underperformed in the short term, with a 1-week return of -3.07% compared to a negligible decline of -0.03% in the Sensex. 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 a strong performance in terms of management efficiency and debt servicing, with a high ROCE of 20.88% and a low Debt to EBITDA ratio of 1.36, the stock's recent movement is negatively impacted by a significant drop in investor participation, as evidenced by a 17.37% decline in delivery volume. Furthermore, the reduction in promoter stake by 3.39% suggests waning confidence in the company's future prospects.
In the broader market context, Gravita India's performance has been notably weaker than the benchmark, with a year-to-date return of -18.83% against the Sensex's gain of 3.15%. This stark contrast highlights the stock's struggles despite positive financial indicators such as a 21.53% growth in net sales and a 35.48% increase in profit after tax over the past nine months. The stock's expensive valuation, indicated by a Price to Book Value of 6.3 and a PEG ratio of 1.6, further complicates its attractiveness to investors, especially in light of the declining promoter confidence. Overall, these factors contribute to the stock's downward trajectory in the current market environment.