Why is Va Tech Wabag falling/rising?

As of 22-Aug, Va Tech Wabag Ltd's stock price is currently at 1,590.95, reflecting a decrease of 28.25, or 1.74%. Today's performance indicates that the stock has underperformed its sector by 1.56%, with an intraday low of Rs 1586.35, marking a decline of 2.03%. Despite this drop, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting some underlying strength. Over the past year, the stock has generated a return of 18.46%, while profits have risen by 22.2%, indicating a solid financial performance. Additionally, the company boasts a low debt-to-equity ratio and high institutional holdings, which have increased by 0.76% over the previous quarter, reflecting confidence from larger investors.
In the broader market context, Va Tech Wabag's short-term performance over the past week shows a gain of 0.52%, which is lower than the Sensex's increase of 0.88%. However, the stock has outperformed the benchmark over the longer term, particularly with a remarkable 547.91% return over the past three years compared to the Sensex's 38.34%. This suggests that while the stock is currently facing downward pressure, it has maintained a strong performance relative to the market in the longer term, supported by positive factors such as falling raw material costs and a strong cash position.