Why is Prec. Wires (I) falling/rising?

As of 16-Jul, Precision Wires India Ltd is experiencing a decline in its stock price, currently at Rs 192.15, which reflects a decrease of Rs 3.85 or 1.96%. The stock has underperformed its sector by 1.64% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 2.34%. Despite this recent drop, the stock has shown strong performance over the longer term, with a 12.37% increase year-to-date and a remarkable 307.86% rise over the past three years. The company has also reported positive financial metrics, including a high return on capital employed and record net sales, which contribute to its overall strong performance despite the current price movement.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by 1.08% over the past week while Precision Wires has gained 2.21% in the same period. This indicates that the stock has been relatively resilient compared to the market. Furthermore, the increase in investor participation, as evidenced by a 22.95% rise in delivery volume, suggests ongoing interest in the stock, which could support its recovery. However, the current price drop may reflect short-term market fluctuations rather than a fundamental weakness in the company's performance.