Why is Mazagon Dock falling/rising?

As of 12-Jun, Mazagon Dock Shipbuilders Ltd is experiencing a decline in its stock price, currently at Rs 3,211.35, which reflects a decrease of Rs 102.65 or 3.1%. The stock has been on a downward trend, having lost 5.46% over the last two days. Today's performance is in line with the sector, which has also seen a decline of 2.91%. The stock touched an intraday low of Rs 3,202.25, and the trading volume has decreased, with delivery volume falling by 19.34% compared to the five-day average. Despite this short-term decline, the stock has shown strong long-term performance, with a 100.67% return over the past year and a remarkable 2,296.08% increase over the last three years. The company maintains a solid fundamental strength, evidenced by a healthy return on equity and consistent growth in net sales and operating profit.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has gained 0.31% over the past week while Mazagon Dock has declined by 6.36%. This disparity indicates that the stock is underperforming relative to the market. However, the increasing participation of institutional investors, who have raised their stake in the company, suggests a level of confidence in its long-term prospects. This institutional interest may provide some support for the stock despite its current volatility. Overall, while the stock is facing short-term challenges, its strong fundamentals and historical performance may position it favorably for future recovery.