Why is Kennametal India falling/rising?

As of 24-Sep, Kennametal India Ltd's stock price is currently at 2,100.00, reflecting a decrease of 24.9 points or 1.17%. The stock has been underperforming, having lost 1.51% over the last three days and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. In terms of returns, the stock has declined by 34.54% over the past year, while its profits have only increased by 1.7%. Despite a low debt-to-equity ratio and healthy long-term growth in operating profit, the stock's expensive valuation and consistent underperformance against benchmarks have contributed to its recent decline.
In the broader market context, Kennametal India's short-term performance has been slightly better than the Sensex, which has fallen by 1.18% over the past week, while Kennametal India has decreased by 0.84%. However, the stock's year-to-date performance shows a significant decline of 29.22%, contrasting sharply with the Sensex's gain of 4.58%. This consistent underperformance, coupled with a high PEG ratio and flat results in June, indicates that investor sentiment remains cautious, leading to the stock's downward trajectory.