Why is Steelcast falling/rising?

As of 11-Jul, Steelcast Ltd's stock price is currently at Rs 1,181.95, reflecting a decrease of Rs 21.3 or 1.77%. The stock has underperformed its sector by 0.32% today and has experienced a trend reversal after two consecutive days of gains. It touched an intraday low of Rs 1,165.1, indicating a decline of 3.17%. Despite this recent drop, the stock has shown strong performance over the longer term, with a 39.59% increase year-to-date and an impressive 80.31% rise over the past year. The company has also reported positive financial results, including a 43.64% growth in profit before tax and a 22.75% increase in net sales, contributing to its overall market-beating performance.
In the broader market context, Steelcast's short-term performance has been weaker than the benchmark Sensex, which has declined by only 1.12% over the past week compared to Steelcast's 2.67% drop. However, the stock has significantly outperformed the Sensex over the longer term, with a 218.41% increase over the past three years versus the Sensex's 51.67%. The stock's liquidity remains adequate for trading, and rising investor participation suggests ongoing interest, despite the recent price decline. Overall, while the stock is currently facing downward pressure, its long-term growth trajectory and solid financial performance indicate a resilient position in the market.