Why is Kajaria Ceramics falling/rising?

As of 23-Jul, Kajaria Ceramics Ltd. is experiencing a decline in its stock price, currently at Rs 1,213.55, which reflects a decrease of Rs 21.45 or 1.74%. The stock has underperformed its sector by 0.56% today and has been on a downward trend for the last two days, accumulating a total decline of 3.18%. Despite a positive performance over the past month with a return of 14.35%, the stock has struggled over the past year, showing a significant drop of 17.56%. The stock's performance today included an intraday low of Rs 1,203.5, and trading volume has increased, indicating rising investor participation. The company maintains a high management efficiency with a return on equity (ROE) of 15.43% and a low debt-to-equity ratio, which are positive indicators; however, these have not been sufficient to counteract the recent price declines.
In the broader market context, Kajaria Ceramics has outperformed the benchmark Sensex over the past week, with a return of 2.69% compared to the Sensex's 0.11%. However, the stock's year-to-date performance of 4.66% lags behind the Sensex's 5.87%. The company's significant market capitalization of Rs 19,670 crore and high institutional holdings at 43.46% suggest a strong position within its sector, yet the recent consecutive price falls may indicate market concerns or profit-taking by investors. Overall, while the stock has shown resilience in certain periods, the current downward movement reflects a combination of short-term volatility and broader market dynamics.