Why is Rajoo Engineers falling/rising?

As of 26-Sep, Rajoo Engineers Ltd is experiencing a decline in its stock price, currently at Rs. 85.75, which reflects a decrease of Rs. 2.15 or 2.45%. The stock has hit a new 52-week low of Rs. 84 today and has been on a downward trend, losing 10.35% over the past week and 17.47% over the past month. Additionally, the stock has underperformed its sector by 0.72% today and has been trading below all key moving averages. Despite the company showing strong long-term growth with significant increases in operating profit and net profit, its stock has generated a return of -78.02% over the past year, indicating a disconnect between its financial performance and market valuation. The stock is considered expensive with a high Price to Book Value ratio, which may deter investors despite its low debt levels and positive quarterly results.
In the broader market context, Rajoo Engineers has underperformed significantly compared to the benchmark Sensex, which has only declined by 6.30% over the past year. The stock's recent performance is particularly concerning given the overall market's negative return of -7.63% during the same period. While there has been a rise in investor participation, as evidenced by increased delivery volumes, the overall sentiment remains negative due to the stock's steep decline and high valuation concerns. This combination of factors suggests that investors are cautious, leading to continued selling pressure on the stock.