Why is Simplex Castings falling/rising?

As of 30-Jun, Simplex Castings Ltd is experiencing a decline in its stock price, currently at Rs 335.05, which reflects a decrease of Rs 2.75 or 0.81%. Despite this drop, the stock had opened the day with a gain of 3.24% and reached an intraday high of Rs 348.75. However, it also touched a low of Rs 323, indicating volatility throughout the trading session. Over the past week, the stock has performed well, with a return of 4.59%, and it has shown strong performance over longer periods, including a remarkable 68.45% increase over the past year. The company has reported significant growth in net profit and sales, with a 184.92% increase in net profit and a 944.1% rise in profits over the past year, which supports a positive outlook despite the current price decline.
In the broader market context, Simplex Castings has outperformed the Sensex over the past week, which has only increased by 2.09%. The stock's recent performance is bolstered by rising investor participation, as evidenced by a 270.35% increase in delivery volume compared to the five-day average. Furthermore, the stock is trading above its moving averages, indicating a generally positive trend. However, the current price drop may reflect profit-taking after a strong rally and the stock's recent volatility. Overall, while the stock is facing a short-term decline, its long-term fundamentals remain strong, suggesting that it could be a hold for investors.