Why is Magna Electrocas falling/rising?

As of 10-Jul, Magna Electro Castings Ltd is experiencing a decline in its stock price, currently at Rs 1,315.00, which reflects a decrease of Rs 30.0 or 2.23%. Despite this drop, the stock has shown strong performance over the past week, with a return of 12.76%, and has significantly outperformed the benchmark Sensex, which has remained nearly flat at -0.06%. The stock is currently trading close to its 52-week high, just 4.56% away, but has underperformed its sector by 1.19% today. Additionally, the stock touched an intraday low of Rs 1,281, indicating a volatility in trading. However, it is noteworthy that Magna Electro Castings has been trading above its moving averages across various periods, and there has been a notable increase in investor participation, with delivery volume rising by 43.49% against the 5-day average.
In the broader market context, while Magna Electro Castings has shown impressive long-term returns, including a staggering 179.79% over the past year, the recent decline may be attributed to short-term market fluctuations and sector performance. The stock's performance remains strong compared to the benchmark, which has only gained 4.09% over the same period. The company's solid financial results, including consistent growth in net sales and profit after tax over the last five quarters, along with a low debt-to-equity ratio, suggest a fundamentally strong position. However, the recent price drop could reflect profit-taking by investors after a period of significant gains, despite the overall positive outlook for the company.