Why is Kaycee Inds. falling/rising?

As of 28-Jul, Kaycee Industries Ltd is experiencing a decline in its stock price, currently at Rs 1,238.50, which represents a decrease of Rs 44.85 or 3.49%. The stock has underperformed its sector by 1.82% today and has been on a downward trend for the last two days, with a total decline of 6.02% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Despite reporting positive financial results in March, including the highest net sales and profits, the stock's valuation remains high with a Price to Book Value of 13.5, which is considered expensive compared to its peers. The company has also seen a decrease in investor participation, with delivery volume falling by 13.99% against the 5-day average.
In the broader market context, Kaycee Industries has significantly underperformed compared to the benchmark, with a one-year return of -31.25% against the BSE500's -2.52%. This stark contrast highlights the stock's struggles relative to the overall market performance. While the company has shown profit growth of 30.7% over the past year, the high PEG ratio of 2.1 suggests that the stock may be overvalued, contributing to its recent price decline. Overall, the combination of high valuation, declining investor interest, and poor short-term performance relative to the market has led to the stock's current downward trajectory.