Why is Kennametal India falling/rising?

As of 18-Sep, Kennametal India Ltd is experiencing a decline in its stock price, currently at 2,099.45, reflecting a decrease of 18.3 points or 0.86%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total drop of 4.57% during this period. Although it opened with a gain of 3.31% today, it reached a high of Rs 2,187.75 before falling to a low of Rs 2,067. The stock's performance over the past week shows a decline of 4.13%, and it has significantly underperformed the benchmark Sensex, which has risen by 1.80%. Additionally, the stock is trading below all key moving averages, indicating a bearish trend. While the company has a low debt-to-equity ratio and healthy long-term growth in operating profit, it has also faced consistent underperformance against the benchmark over the last three years, with a substantial decline of 34.39% in the past year. In the broader market context, Kennametal India's recent performance contrasts sharply with the Sensex, which has shown positive returns of 2.14% over the past month and 6.24% year-to-date. This underperformance is compounded by the company's expensive valuation metrics, such as a Price to Book Value of 5.9 and a high PEG ratio of 35.3, despite a modest profit increase of 1.7% over the past year. The stock's consistent decline and negative sentiment among investors are reflected in its recent trading activity, where the volume traded has been significantly lower than its historical averages. Overall, the combination of poor short-term performance, high valuation concerns, and a lack of positive catalysts has contributed to the stock's downward trajectory.