Why is Magna Electrocas falling/rising?

As of 29-Sep, Magna Electro Castings Ltd is experiencing a decline in its stock price, currently at Rs 978.00, which reflects a decrease of Rs 26.65 or 2.65%. The stock has been underperforming, having fallen consecutively for the last five days, resulting in a total decline of 12.8% over this period. Today's trading saw the stock reach an intraday low of Rs 962.05, indicating a significant drop of 4.24%. Despite a healthy long-term growth outlook, with operating profit increasing at an annual rate of 40.15% and consistent positive results over the last six quarters, the stock is currently trading below its moving averages across various time frames, which suggests bearish sentiment. Additionally, while the stock has shown strong returns over the past year and three years, its recent performance has not matched the overall market trend.
In the broader market context, Magna Electro Castings Ltd's short-term performance has significantly lagged behind the benchmark, with a 1-week return of -12.80% compared to the Sensex's decline of only 2.18%. This stark contrast highlights the stock's recent struggles relative to the market. Although the company maintains a low debt-to-equity ratio and has demonstrated attractive valuation metrics, the recent price movement indicates that investor sentiment may be swayed by the stock's recent underperformance and lower trading volumes, despite a notable increase in delivery volume on September 26. Overall, the combination of recent price declines, underperformance against the sector, and trading below key moving averages contributes to the current downward trend in Magna Electro Castings Ltd's stock price.