Why is Permanent Magnet falling/rising?

As of 22-Aug, Permanent Magnets Ltd's stock price is currently at 1,035.45, reflecting a decline of 32.75 points or 3.07%. The stock has recently hit a new 52-week high of Rs. 1,084 but has underperformed its sector by 2.58% today. After five consecutive days of gains, the stock has experienced a trend reversal, touching an intraday low of Rs. 1,030. Despite this decline, the stock has shown strong performance over the longer term, with a 7.19% increase year-to-date and a remarkable 662.76% rise over the past five years. The company maintains a low debt-to-equity ratio of 0.03, indicating financial stability, which may contribute to investor confidence despite the recent price drop.
In the broader market context, Permanent Magnets Ltd has outperformed the Sensex in both the short and long term, with a 6.40% gain over the past week compared to the Sensex's 0.88% increase. However, the stock's recent decline contrasts with its overall strong performance, suggesting that market corrections can occur even in a generally upward-trending stock. The rising investor participation, evidenced by a significant increase in delivery volume, indicates continued interest in the stock, which may help stabilize its price in the future.