Why is Rajoo Engineers falling/rising?

As of 23-Jul, Rajoo Engineers Ltd's stock price is currently at Rs 127.40, reflecting a decline of Rs 6.7 or 5.0%. The stock has been underperforming, having fallen consecutively for the last two days with a total drop of 7.98% during this period. In terms of performance, the stock has underperformed its sector by 5.49% today and has seen a significant decrease in delivery volume, which has dropped by 55.7% compared to the 5-day average. Over the past year, the stock has generated a return of -36.06%, contrasting sharply with the market's positive return of 2.86%. While the company has shown strong growth in operating profit and net profit, its high valuation metrics, such as a Price to Book Value of 12.8, may deter investors, especially given the low domestic mutual fund participation.
Broader Market Context: In the short term, Rajoo Engineers' stock has declined by 6.67% over the past week, while the Sensex has slightly increased by 0.11%. This stark contrast highlights the stock's struggle to attract investor confidence despite its healthy long-term growth indicators. The broader market has been performing better, as evidenced by the Sensex's positive returns over the last month and year, which further emphasizes Rajoo Engineers' underperformance. The combination of a high valuation, low mutual fund interest, and recent negative price movements suggests that investors may be cautious about the stock's future prospects, contributing to its current decline.