Why is Machino Plastics falling/rising?

As of 29-Aug, Machino Plastics Ltd is currently priced at 285.00, reflecting a decrease of 2.35 (-0.82%). The stock has been underperforming, having fallen for the last two days with a total decline of 2.4% during this period. Today's trading saw the stock touch an intraday low of Rs 274.05, indicating a significant drop of 4.63%. Despite this recent downturn, the stock has shown strong performance over the past week and month, with returns of +5.36% and +13.50%, respectively. The company reported positive financial results in June, with a notable increase in profit after tax and net sales, contributing to its attractive valuation compared to peers. However, there has been a decline in investor participation, as evidenced by a 19.96% drop in delivery volume against the five-day average.
In the broader market context, while Machino Plastics has experienced a decline in the short term, it has significantly outperformed the Sensex, which has seen a drop of 1.84% over the past week and 1.88% over the past month. The stock's year-to-date return of +17.19% also contrasts sharply with the Sensex's modest gain of +2.14%. This disparity suggests that despite the recent price drop, Machino Plastics has been resilient compared to the overall market, indicating that the stock may still hold potential for recovery in the longer term, especially given its strong financial performance and attractive valuation metrics.