Why is Raymond falling/rising?

As of 29-Sep, Raymond Ltd's stock price is currently at Rs 578.05, reflecting a decline of Rs 28.95 or 4.77%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decrease of 7.42% during this period. It has also underperformed its sector by 4.4% today. The stock is trading below its moving averages across various time frames, indicating a bearish trend. Additionally, the stock has shown a negative return of 9.39% over the past year, with profits declining by 29.8%. While the company has a high return on equity (ROE) of 24.90% and is trading at a discount compared to its peers, the long-term growth outlook remains poor, with net sales decreasing at an annual rate of 13.03% over the last five years.
In the broader market context, Raymond's short-term performance has been significantly worse than the benchmark, with a 1-week return of -6.74% compared to the Sensex's -2.18%. This stark contrast highlights the stock's struggles relative to the overall market. Furthermore, institutional investors have reduced their stake in the company by 3.9%, indicating a lack of confidence in its future prospects. The decline in delivery volume and falling investor participation further exacerbate the stock's challenges, suggesting that market sentiment is currently negative towards Raymond Ltd.