Why is Greaves Cotton falling/rising?

As of 06-Nov, Greaves Cotton Ltd. is experiencing a decline in its stock price, currently at Rs 203.10, which reflects a decrease of Rs 18.05 or 8.16%. The stock has underperformed its sector by 7.53% today, reaching an intraday low of Rs 202.5. It has shown high volatility with an intraday fluctuation of 5.86%. Over the past week, the stock has dropped by 12.72%, while its year-to-date performance shows a significant decline of 26.82%. Despite declaring positive results for the last three consecutive quarters, including a notable growth in profit before tax, the stock's valuation appears expensive compared to its peers, contributing to its downward movement.
In the broader market context, the Sensex has only decreased by 1.30% over the past week, indicating that Greaves Cotton's decline is more pronounced than the general market trend. The company's low debt-to-equity ratio and strong long-term fundamentals are positive factors; however, the low participation from domestic mutual funds, which hold only 1.72% of the company, suggests a lack of confidence at current price levels. The stock's performance over the past year shows a return of 6.70%, but with profits rising significantly, the high price-to-book ratio may deter investors, further exacerbating the stock's decline.