Why is Praveg falling/rising?

As of 29-Jul, Praveg Ltd's stock price is currently at 463.60, reflecting a decline of 9.4 points or 1.99%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 4.59% during this period. It has also underperformed its sector by 3.19% today. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume decreasing by 47.35% compared to the 5-day average. Despite some positive indicators such as high management efficiency and healthy long-term growth in operating profit, the stock's expensive valuation relative to peers and a high PEG ratio suggest that it may be overvalued, contributing to its recent price decline.
In the broader market context, Praveg Ltd has underperformed significantly compared to the benchmark, with a one-year return of -41.86% against the BSE500's negative return of -2.26%. This stark contrast highlights the stock's struggles relative to the overall market. Furthermore, the decrease in institutional investor participation, with a reduction of 1.64% in their stake, suggests a lack of confidence among more knowledgeable investors, which can further exacerbate the stock's downward pressure. Overall, the combination of poor recent performance, high valuation concerns, and declining investor interest has contributed to the stock's current downward trajectory.