Why is Manorama Indust. falling/rising?

As of 29-Jul, Manorama Industries Ltd is experiencing a decline in its stock price, currently at Rs 1,544.85, which reflects a decrease of Rs 135.15 or 8.04%. Today's price summary indicates that the stock has underperformed its sector by 7.27%, with an intraday low of Rs 1,514.80, marking a drop of 9.83%. The stock has shown high volatility today, with an intraday volatility of 6.84%, and has traded in a wide range of Rs 175.2. Despite this decline, the company has demonstrated strong long-term growth, with net sales increasing at an annual rate of 40.99% and operating profit at 63.41%. However, the stock's valuation appears expensive, with a return on capital employed (ROCE) of 19.9 and a PEG ratio of 0.3, which may be contributing to the recent price drop.
In the broader market context, the stock has underperformed the benchmark Sensex over the past week, with a return of -3.02% compared to the benchmark's -1.03%. However, it has outperformed the Sensex significantly over the longer term, with a year-to-date return of 44.65% versus the Sensex's 4.09%, and a remarkable 127.18% return over the past year. This strong performance over longer periods contrasts with the current short-term decline, suggesting that while the stock has been a strong performer historically, recent volatility and high valuation concerns may be impacting investor sentiment in the short term.