The downward pressure on Prince Pipes and Fittings' share price has been driven by a combination of broader macroeconomic headwinds, foreign institutional investor selling waves, and sector-specific challenges. Key factors include input cost inflation, competitive pricing pressures within the CPVC and UPVC piping market, and a moderation in demand that led to earnings deceleration and valuation multiple de-ratings from previous peaks. Additionally, liquidity contractions in the mid-cap segment amplified short-term corrections.