Why is Tega Inds. falling/rising?

As of 11-Jul, Tega Industries Ltd is currently priced at 1,700.30, reflecting a decline of 38.7 points or 2.23%. The stock has been underperforming, having lost 2.84% over the last two days and touching an intraday low of Rs 1,671.3. Despite this recent downturn, the stock has shown positive performance over the past week and month, with returns of +0.83% and +8.30%, respectively. Additionally, the company has demonstrated strong financial metrics, including a high return on capital employed (ROCE) of 19.37% and significant growth in profit before tax (PBT) and profit after tax (PAT) in the latest quarter. However, the stock's recent price drop may be influenced by its consecutive falls and underperformance against its sector.
In the broader market context, Tega Industries Ltd has outperformed the Sensex over the past week and month, while the benchmark has shown a decline of 1.12% and a flat return of -0.02%, respectively. This indicates that while the stock has been resilient in the short term, the recent price movement suggests a correction phase. The stock's liquidity remains adequate for trading, and rising investor participation, as evidenced by a significant increase in delivery volume, may provide some support. However, the overall market sentiment and the stock's recent performance could be contributing to its current decline.