Why is JK Tyre & Indust falling/rising?

As of 25-Jul, JK Tyre & Industries Ltd is experiencing a decline in its stock price, currently at 346.45, reflecting a decrease of 7.55 points or 2.13%. The stock has underperformed its sector by 1.02% today and reached an intraday low of Rs 344.05, marking a drop of 2.81%. Over the past week, the stock has decreased by 6.24%, and its year-to-date performance shows a significant decline of 10.77%. Despite a high return on capital employed (ROCE) of 12.6 and attractive valuation metrics, the stock has seen a substantial drop in profits by 35.7% over the past year, contributing to its negative performance. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 55.21% against the five-day average, which may indicate waning interest among investors.
In the broader market context, JK Tyre's recent performance contrasts sharply with the Sensex, which has only declined by 0.36% over the past week and has gained 4.25% year-to-date. This disparity highlights the stock's underperformance relative to the benchmark index. While high institutional holdings at 22.53% suggest that more knowledgeable investors are backing the company, the overall negative sentiment surrounding the stock, driven by falling profits and reduced trading activity, has led to its current decline.