Why is Kaycee Inds. falling/rising?

As of 21-Jul, Kaycee Industries Ltd is experiencing a decline in its stock price, currently at 1,316.00, reflecting a decrease of 4.0 points or 0.3%. The stock has underperformed its sector by 2.58% today and has been on a consecutive downward trend for the last two days, with a total drop of 2.73%. Over the past month, the stock has seen a significant decline of 13.53%, and its year-to-date performance shows a steep drop of 19.15%. Despite positive quarterly results indicating growth in net sales and profits, the stock is trading at a premium compared to its peers, with a high Price to Book Value of 14.4, contributing to its recent price decline. Additionally, the stock's return on equity stands at 20.2%, but the high PEG ratio of 2.3 suggests that it may be overvalued, further impacting investor sentiment negatively.
In the broader market context, the stock's performance has lagged behind the benchmark, with the BSE500 generating a return of 1.63% over the past year while Kaycee Industries has faced a substantial decline of 19.35%. The electric equipment sector has gained by 2.28%, highlighting the stock's struggle to keep pace with its peers. Although there has been a rise in investor participation, as indicated by an increase in delivery volume, the overall market conditions and the company's high valuation metrics are likely contributing to the stock's downward movement.