Why is Magna Electrocas falling/rising?

As of 24-Jul, Magna Electro Castings Ltd is experiencing a decline in its stock price, currently at Rs 1,274.00, which reflects a decrease of Rs 40.0 or 3.04%. The stock has underperformed its sector by 2.99% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 3.48%. Despite this recent downturn, the stock has shown strong performance over the longer term, with a remarkable increase of 172.22% over the past year and a staggering 603.28% over the last three years. The company has maintained positive financial results, with a 43.99% growth in profit after tax and a 23.99% increase in net sales over the past nine months, which indicates a solid operational foundation.
In the broader market context, the stock's short-term performance has been notably weaker than the benchmark, with a 1-week return of -1.24% compared to the Sensex's slight decline of -0.09%. This suggests that while Magna Electro Castings Ltd has outperformed the market over the long term, it is currently facing challenges that are impacting its short-term price movement. The increased investor participation, as indicated by a significant rise in delivery volume, may provide some support, but the recent price action reflects a cautious sentiment among investors, likely influenced by the stock's recent performance and market conditions.