Why is JK Tyre & Indust falling/rising?

As of 30-Jul, JK Tyre & Industries Ltd is currently priced at 341.75, reflecting a decrease of 1.55, or 0.45%. The stock has underperformed its sector by 1.02% today, and its delivery volume has fallen by 20.02% compared to the 5-day average, indicating a decline in investor participation. Over the past week, the stock has decreased by 3.30%, and it has shown a significant decline of 23.85% over the past year, while its profits have decreased by 35.7%. Despite a relatively attractive valuation with a return on capital employed (ROCE) of 12.6 and high institutional holdings at 22.53%, the stock is trading at a discount compared to its peers, which may not be enough to offset the negative sentiment surrounding its recent performance. In the broader market context, the Sensex has decreased by 1.50% over the past week, indicating that the stock's short-term decline is somewhat in line with the overall market trend. However, JK Tyre's year-to-date performance shows a stark contrast, with a decline of 11.98% compared to the Sensex's gain of 4.28%. This suggests that while the stock is facing challenges, the broader market is performing better, which may further pressure JK Tyre's stock price as investors seek more stable returns elsewhere.