Why is Techno Elec.Engg falling/rising?

As of 06-Aug, Techno Electric & Engineering Company Ltd is experiencing a decline in its stock price, currently at Rs 1,380.90, which reflects a decrease of Rs 44.85 or 3.15%. The stock has underperformed its sector by 2.77% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 3.82%. Additionally, the stock has shown negative returns over various periods, including a 4.03% drop over the past week and a 12.13% decline over the past month. While the company has reported strong operating profit growth and positive results in recent quarters, it faces challenges with poor long-term growth prospects and a high valuation compared to its peers, which may be contributing to the stock's recent performance.
In the broader market context, Techno Electric has significantly underperformed against the benchmark Sensex, which has only declined by 1.15% over the past week and 3.46% over the past month. The stock's year-to-date performance is also concerning, with a 12.44% drop compared to the Sensex's gain of 3.08%. This underperformance highlights the stock's struggles to attract investor confidence, particularly given its high institutional holdings of 33.01%, which suggests that institutional investors may be cautious about its valuation and growth potential. Overall, the combination of recent price declines, poor short-term returns relative to the benchmark, and concerns about long-term growth are contributing to the stock's current downward trajectory.