Why is Triveni Turbine falling/rising?

As of 28-Aug, Triveni Turbine Ltd. is experiencing a decline in its stock price, currently at Rs 523.05, reflecting a decrease of Rs 6.95 or 1.31%. The stock has underperformed its sector by 1.14% today and has been on a consecutive downward trend for the last two days, accumulating a total decline of 2.84%. Additionally, the stock is trading below its moving averages across various time frames, indicating a bearish trend. Over the past month, Triveni Turbine has seen a significant drop of 14.44%, while its year-to-date performance shows a decline of 29.23%. The company's recent financial results have also contributed to this downturn, with net sales and profit after tax falling by 26.0% and 27.8%, respectively, compared to previous quarters. Despite having a strong long-term fundamental strength with a high return on equity and low debt, the stock's valuation appears expensive, which may deter investors.
In the broader market context, Triveni Turbine's short-term performance has been relatively worse than the benchmark, as it has declined by 2.15% over the past week compared to a 2.34% drop in the Sensex. This underperformance is further highlighted by the stock's significant decline over the past year, where it has fallen by 28.64%, while the broader market has only seen a decrease of 5.01%. The high institutional holdings at 37.59% suggest that knowledgeable investors are closely monitoring the company's fundamentals, but the recent negative financial results and the stock's expensive valuation may lead to cautious sentiment among both institutional and retail investors.