Why is Magna Electrocas falling/rising?

As of 28-Jul, Magna Electro Castings Ltd is experiencing a decline in its stock price, currently at Rs 1,204.75, reflecting a decrease of Rs 63.7 or 5.02%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in an overall decline of 8.73% during this period. Today's performance indicates that the stock underperformed its sector by 3.44%, and it reached an intraday low of Rs 1,204.75. Despite having a strong long-term performance with a 156.33% return over the past year, the recent trend shows a significant drop in investor participation, with delivery volume decreasing by 66.97% compared to the five-day average.
In the broader market context, the stock's short-term performance of -8.17% over the past week contrasts with the Sensex, which has only declined by 1.59%. This indicates that while the overall market is experiencing a downturn, Magna Electro Castings Ltd is facing a more severe drop. Although the company has demonstrated positive financial results over the last five quarters and maintains a low debt-to-equity ratio, these factors have not been sufficient to counteract the recent negative sentiment and price movement. The stock's premium valuation compared to peers and its strong historical performance may not be enough to attract buyers in the current market environment.