Why is Steelcast falling/rising?

As of 03-Nov, Steelcast Ltd's stock price is currently at Rs 211.40, reflecting a decline of Rs 13.6 or 6.04%. The stock has been underperforming recently, having fallen consecutively over the last two days with a total drop of 8.01%. Today's trading saw the stock reach an intraday low of Rs 210.85, and it has underperformed its sector by 6.94%. Despite this recent downturn, the stock has shown strong long-term performance with a year-to-date return of 24.84% and a one-year return of 33.56%, significantly outpacing the broader market. The company has demonstrated a strong ability to service its debt, a healthy growth rate in operating profit, and has reported positive results over the last three quarters, which could support its long-term value despite the current price decline.
In the broader market context, Steelcast's short-term performance has been notably weaker than the benchmark, with a one-week return of -4.71% compared to the Sensex's -0.94%. This indicates that while the stock has performed well over the longer term, recent trends suggest a struggle in the short term relative to the market. The increased investor participation, as evidenced by a significant rise in delivery volume, may indicate a potential for recovery, but the current liquidity and moving averages suggest caution among investors. Overall, the stock's recent decline appears to be influenced by short-term market pressures despite its strong fundamentals and historical performance.