Why is Triveni Turbine falling/rising?

As of 05-Aug, Triveni Turbine Ltd. is experiencing a decline in its stock price, currently at Rs 533.50, reflecting a decrease of Rs 58.7 or 9.91%. The stock has underperformed significantly today, opening with a loss of 7.08% and touching an intraday low of Rs 529.45, which is a 10.6% drop. Over the past week, the stock has fallen by 12.01%, and its year-to-date performance shows a substantial decline of 27.82%. Despite strong long-term fundamentals, including a solid average Return on Equity (ROE) of 23.08% and low debt levels, the company reported a 27.8% drop in profit after tax (PAT) compared to the previous four-quarter average, alongside the lowest net sales and PBDIT figures recorded. This combination of disappointing quarterly results and high valuation metrics has contributed to the stock's recent downward trend.
In the broader market context, Triveni Turbine's performance has been notably weaker than the benchmark, with a year-to-date decline of 27.82% compared to a 3.29% increase in the Sensex. The stock has also underperformed the market over the past year, generating negative returns of 10.34% while the broader market (BSE500) has seen a slight gain of 0.50%. This stark contrast highlights the challenges faced by Triveni Turbine in attracting investor confidence, despite a rise in delivery volume, which suggests some level of investor participation. Overall, the combination of poor recent financial performance and significant underperformance relative to the market has led to the stock's current decline.