Why is Lumax Industries falling/rising?

As of 08-Jul, Lumax Industries Ltd is experiencing a decline in its stock price, currently at Rs 3,632.90, reflecting a decrease of Rs 56.05 or 1.52%. Today's performance indicates that the stock has underperformed its sector by 0.91% and has fallen after three consecutive days of gains, touching an intraday low of Rs 3,551, which is a drop of 3.74%. Despite this recent decline, the stock has shown strong performance over the past month with a return of 17.19% and a year-to-date increase of 53.94%. Positive factors contributing to the stock's overall strength include significant growth in net sales and profits, as well as a favorable PEG ratio of 0.9, indicating it is trading at a discount compared to peers. Additionally, institutional investors have increased their stake, suggesting confidence in the company's fundamentals.
In the broader market context, Lumax Industries has outperformed the benchmark Sensex over various periods, including a 1-year return of 22.45% compared to the Sensex's 4.69%. However, the stock's recent underperformance today may reflect a temporary correction after a strong upward trend. The rising investor participation, evidenced by a 40.5% increase in delivery volume, indicates continued interest in the stock, which could support its recovery in the near term. Overall, while the stock is currently facing a decline, its long-term performance and institutional backing suggest a resilient outlook.