Why is Rane (Madras) falling/rising?

As of 04-Sep, Rane (Madras) Ltd's stock price is currently at 848.40, reflecting a decrease of 13.25 points or 1.54%. The stock has underperformed its sector today by 0.78% and has experienced a trend reversal, falling after two consecutive days of gains. The stock reached an intraday high of Rs 879, but overall, it has shown a negative return of -2.26% over the past week and -29.07% over the past year, despite a positive return of 123.88% over the last three years. The company's operating profit has grown at an annual rate of 31.52%, but its profits have fallen significantly by 78.8% over the past year, contributing to the stock's decline. Additionally, while the stock is trading at a discount compared to its peers, the recent performance indicates a struggle to maintain investor confidence.
Broader Market Context: In comparison to the benchmark Sensex, which has gained 0.80% over the past week, Rane (Madras) Ltd's short-term performance has lagged behind. The Sensex has also shown a positive return of 3.30% year-to-date, while Rane (Madras) has declined by 1.92% in the same period. This disparity highlights the challenges faced by Rane (Madras) in the current market environment, despite some positive operational metrics. The liquidity of the stock remains adequate, but the overall negative sentiment reflected in its recent price movements suggests that broader market trends may not be favoring the company at this time.