Why is Simplex Castings falling/rising?

As of 24-Jul, Simplex Castings Ltd is experiencing a decline in its stock price, currently at Rs 391.20, which reflects a decrease of Rs 7.6 or 1.91%. Despite this drop, the stock has shown strong performance over the past month, with a return of 21.85%, and has outperformed the benchmark Sensex, which only gained 0.16% during the same period. The stock is currently trading close to its 52-week high, just 4.81% away, and has been trading above its moving averages across various time frames. However, it has underperformed its sector today by 1.86% and has seen a trend reversal after three consecutive days of gains. The company has reported significant growth in net profit and sales, indicating strong fundamentals, but the recent price movement suggests a temporary correction.
In the broader market context, the stock's short-term performance over the past week shows a gain of 0.57%, while the Sensex has slightly declined by 0.09%. This indicates that Simplex Castings has been resilient compared to the overall market. The company has consistently delivered positive results over the last four quarters, with a remarkable increase in net profit and sales, which supports its valuation. Despite the current price drop, the stock has generated impressive returns of 79.08% over the past year, significantly outperforming the Sensex's 2.54% increase. This strong performance, combined with rising investor participation, suggests that while the stock is facing a short-term decline, its long-term outlook remains positive.