Why is MM Forgings falling/rising?

As of 19-Sep, MM Forgings Ltd. is experiencing a decline in its stock price, currently at Rs 330.80, which reflects a decrease of Rs 4.95 or 1.47%. The stock has underperformed its sector by 1.58% today and has shown a trend reversal after two consecutive days of gains. It reached an intraday low of Rs 329, indicating a drop of 2.01%. Over the past week, the stock has increased by 1.16%, but it has significantly underperformed over the longer term, with a year-to-date decline of 29.60% and a one-year return of -43.39%. The company's operating profit has grown at a healthy annual rate of 37.03%, but it has also faced negative results in recent quarters, including a 2.42% fall in net sales and a 37.0% decrease in profit after tax compared to previous quarters. Additionally, institutional investors have reduced their stake, which could signal a lack of confidence in the stock's future performance.
In the broader market context, while MM Forgings has shown a positive return of 6.32% over the past month, it still lags behind the benchmark Sensex, which has gained 1.20% in the same period. The stock's long-term performance has been concerning, with consistent underperformance against the BSE500 over the last three years. The decline in institutional investor participation, which has decreased by 1.89% in the last quarter, further emphasizes the challenges the company faces in regaining investor confidence. Overall, the combination of negative financial results, reduced institutional interest, and significant underperformance against benchmarks contributes to the stock's current downward trend.