Why is Manaksia Coated falling/rising?

As of 25-Jul, Manaksia Coated Metals & Industries Ltd is currently priced at 160.65, reflecting a decrease of 6.15, or 3.69%. The stock recently reached a new 52-week high of Rs 171.65 but has since fallen after two consecutive days of gains. Despite this decline, the stock has shown strong performance over various periods, with a 149.07% return over the past year and a remarkable 715.48% increase over the last three years. The company reported very positive results in June, including a net profit growth of 178.53% and a low debt-equity ratio of 0.63 times, which suggests strong financial health. However, the stock is considered expensive with a high PEG ratio of 1.8, and domestic mutual funds hold no stake in the company, indicating potential concerns about its valuation.
In the broader market context, while Manaksia Coated has outperformed the Sensex in the long term, it has underperformed its sector by 1.85% today. The stock's recent decline contrasts with its strong year-to-date performance of 36.14% compared to the Sensex's 4.25%. This suggests that while the stock has been a strong performer overall, short-term fluctuations and investor sentiment may be influencing its current price movement. The significant increase in delivery volume indicates rising investor participation, but the lack of domestic mutual fund investment may reflect caution among institutional investors regarding the stock's valuation at its current price level.