Why is Man Industries falling/rising?

As of 08-Sep, Man Industries (India) Ltd is experiencing a decline in its stock price, currently at Rs 417.00, reflecting a decrease of Rs 6.2 or 1.47%. Today's price summary indicates that the stock has underperformed its sector by 2.76% and has fallen after three consecutive days of gains. The stock reached an intraday high of Rs 433.5 earlier in the day but has seen a weighted average price closer to its low, suggesting weaker trading activity. Over the past week, the stock has shown a positive return of 7.09%, although it has underperformed over the past month with a slight decline of 0.60%. The company has a low debt-to-equity ratio of 0.08, but recent financial performance shows a concerning drop in net sales and profit after tax, which fell by 15.3% and 27.9%, respectively, compared to previous quarters.
In the broader market context, while the stock has outperformed the Sensex over the past three years with a return of 353.01% compared to the benchmark's 35.35%, its recent performance indicates a shift. The stock's short-term performance has been strong relative to the benchmark, but the decline today suggests a potential trend reversal amidst falling investor participation and liquidity concerns. The stock's valuation appears expensive compared to peers, with a price-to-book value of 1.7, which may contribute to investor hesitation. Overall, the combination of recent poor financial results and high valuation metrics may be influencing the current downward movement in the stock price.