Why is Magna Electrocas falling/rising?

As of 08-Jul, Magna Electro Castings Ltd's stock price is currently at Rs 1,290.00, reflecting a decrease of Rs 27.0 or 2.05%. The stock reached a new 52-week high of Rs 1,348.5 earlier in the day but has since fallen, indicating a trend reversal after two consecutive days of gains. Despite this decline, the stock has shown strong performance over the past year, with a remarkable return of 169.54%, and has outperformed the BSE500 index over various time frames. However, it underperformed its sector by 0.46% today, and the delivery volume has decreased by 2.95% compared to the five-day average, suggesting a decline in investor participation.
In the broader market context, the stock's short-term performance over the past week shows an increase of 2.06%, while the Sensex has only risen by 0.02%, indicating that Magna Electro Castings Ltd has been performing well relative to the benchmark. The company has maintained a low debt-to-equity ratio and has reported positive financial results over the last five quarters, contributing to its long-term market-beating performance. However, the recent drop in stock price, despite its strong fundamentals, may reflect profit-taking after reaching a new high and reduced trading activity, which could signal caution among investors.