Why is Triveni Turbine falling/rising?

As of 23-Jul, Triveni Turbine Ltd. is experiencing a decline in its stock price, currently at Rs 629.00, which reflects a decrease of Rs 26.0 or 3.97%. The stock has underperformed its sector by 3.25% today and has been on a downward trend for the last two days, accumulating a total loss of 5.98%. The stock touched an intraday low of Rs 625.75, indicating significant selling pressure. Despite having a strong long-term fundamental strength, including a solid average Return on Equity (ROE) of 23.08% and consistent positive results over the last 14 quarters, the stock's recent performance has been affected by falling investor participation, with delivery volume dropping by 41.97% against the 5-day average.
In the broader market context, Triveni Turbine's short-term performance has been notably weaker compared to the benchmark Sensex, which has gained 0.11% over the past week while Triveni has declined by 3.48%. Year-to-date, the stock is down 14.90%, contrasting with the Sensex's increase of 5.87%. Although the company has high institutional holdings at 37.59%, indicating confidence from larger investors, the stock's valuation appears expensive with a Price to Book Value of 16.4, which may deter some investors. Overall, while the company has demonstrated strong fundamentals and consistent returns over the long term, the recent price decline is influenced by short-term market dynamics and reduced trading activity.