Why is MTAR Technologie falling/rising?

As of 24-Jun, MTAR Technologies Ltd is experiencing a decline in its stock price, currently at Rs 1,633.80, which reflects a decrease of Rs 50.2 or 2.98%. The stock has underperformed its sector by 3.47% today and has been on a consecutive downward trend for the last three days, resulting in a total drop of 5.32% during this period. The stock reached an intraday low of Rs 1,620.9, indicating significant selling pressure. Despite a high management efficiency with a return on capital employed (ROCE) of 15.98% and strong recent sales growth, the stock has shown poor long-term growth, with an annual operating profit increase of only 5.87% over the past five years. Additionally, while institutional holdings are relatively high at 31.13%, the stock has underperformed the market significantly, with a 13.35% decline over the past year compared to the Sensex's 6.10% gain.
In the broader market context, the stock's performance has been notably weaker than the benchmark, as it has recorded a negative return of 1.34% over the past month, while the Sensex has gained 0.41%. This trend continues in the year-to-date figures, where MTAR Technologies has fallen by 0.80% against the Sensex's 5.01% increase. The stock's valuation appears expensive relative to its peers, which may deter potential investors, especially given its recent profit decline of 5.8% despite positive quarterly results. The combination of these factors contributes to the stock's current downward trajectory, highlighting a lack of investor confidence amid broader market gains.