Why is Simplex Castings falling/rising?

As of 07-Aug, Simplex Castings Ltd is experiencing a decline in its stock price, currently at Rs 378.00, which reflects a decrease of Rs 7.7 or 2.0%. The stock has underperformed its sector by 2.71% today and has seen a trend reversal after three consecutive days of gains. It opened with a loss of 2% and reached an intraday low of Rs 378, with no significant price range throughout the day. Despite this decline, the stock has shown strong performance over the longer term, with a year-to-date increase of 19.98% and an impressive 66.85% rise over the past year. Additionally, there has been a notable increase in investor participation, with delivery volume rising by nearly 50% compared to the five-day average, indicating ongoing interest despite the current price drop.
In the broader market context, the stock's short-term performance contrasts with the benchmark Sensex, which has declined by 0.69% over the past week while Simplex Castings has gained 2.16%. This suggests that the stock has been relatively resilient compared to the overall market. However, the recent price drop may reflect profit-taking after its strong performance, as evidenced by its significant gains over the past three years (808.65%) and five years (1704.30%). The liquidity of the stock remains adequate for trading, which may help mitigate some of the volatility experienced in the current downturn.