Why is JK Tyre & Indust falling/rising?

As of 04-September, JK Tyre & Industries Ltd is experiencing a decline in its stock price, currently at 344.20, which reflects a decrease of 2.8 or 0.81%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 2.19%. Although it opened with a gain of 2.15% today and reached an intraday high of Rs 359.15, the overall performance has been disappointing, particularly as it underperformed its sector by 0.3%. In terms of returns, the stock has shown a positive 7.21% over the past week and 4.16% over the past month, but it has a year-to-date decline of 11.35% and a one-year decline of 16.82%. The stock's profitability has also decreased significantly, with profits falling by 46.7% over the past year, despite a healthy long-term growth rate in operating profit.
In the broader market context, the Sensex has shown a modest increase of 0.80% over the past week, contrasting with JK Tyre's positive short-term returns. However, the stock's year-to-date performance is notably worse than the benchmark, which has gained 3.30%. The decline in investor participation, with a 27.77% drop in delivery volume compared to the five-day average, suggests waning interest among investors, which could be contributing to the stock's recent downward trend. Despite high institutional holdings at 22.53%, indicating some level of confidence from larger investors, the stock's current valuation remains attractive compared to its peers, which may provide some support for future performance.