Why is Pradeep Metals falling/rising?

As of 16-Jul, Pradeep Metals Ltd. is experiencing a decline in its stock price, currently at Rs. 347.00, which reflects a decrease of Rs. 6.1 or 1.73%. Despite this recent drop, the stock has shown strong performance over the past week, with a return of 4.53%, and an impressive 29.07% increase over the past month. The stock hit a new 52-week high of Rs. 359.5 earlier today, indicating strong upward momentum in the recent past. However, it underperformed its sector by 1.43% today, and there has been a notable decline in investor participation, with delivery volume falling by 29.55% against the 5-day average. The stock remains liquid enough for trading, but the recent decline in delivery volume may indicate waning investor interest.
In the broader market context, Pradeep Metals has outperformed the Sensex, which has seen a decline of 1.08% over the past week. The stock's year-to-date return of 31.56% significantly surpasses the Sensex's 5.75% increase, showcasing its strong performance relative to the market. The company has maintained a fair valuation with a return on capital employed (ROCE) of 18.2 and a PEG ratio of 1, suggesting that it is trading at a discount compared to its peers. Despite the recent price drop, the stock has consistently generated returns over the last three years, outperforming the BSE500 in each of the last three annual periods, which may provide a foundation for future recovery.