Why is BHEL falling/rising?

As of 29-Jul, Bharat Heavy Electricals Ltd. (BHEL) is experiencing a price increase, currently at Rs 240.50, which reflects a change of 3.95 or 1.67% upward. Today's performance indicates a trend reversal as the stock has gained after three consecutive days of decline, reaching an intraday high of Rs 241.55. However, it underperformed its sector by 0.58%. Over the past week, the stock has decreased by 3.97%, and over the past month, it has fallen by 8.92%. Despite these short-term declines, the company has shown healthy long-term growth with an operating profit increase of 27.04% annually and a significant rise in net sales and profit after tax for the nine months ending March 25. Additionally, the stock has a low debt-to-equity ratio and high institutional holdings, which may provide some support for its price.
In the broader market context, BHEL's recent performance contrasts with the benchmark Sensex, which has declined by only 1.03% over the past week and 3.24% over the past month. While BHEL has outperformed the market year-to-date with a return of 4.88% compared to the Sensex's 4.09%, its one-year performance has been significantly worse, with a decline of 25.58% against a negligible change in the Sensex. This underperformance, coupled with a high price-to-book value ratio and low return on equity, suggests that while there are positive growth indicators, the stock may still be viewed as expensive compared to its peers, impacting investor sentiment and participation.