Why is HBL Engineering falling/rising?

As of 11-Nov, HBL Engineering Ltd is experiencing a decline in its stock price, currently at Rs 994.70, reflecting a decrease of Rs 104.8 or 9.53%. Today's price summary indicates that the stock has underperformed its sector by 5.85% and has fallen after two consecutive days of gains. The stock touched an intraday low of Rs 988, showcasing high volatility with an intraday fluctuation of 7.47%. Despite this decline, HBL Engineering has shown strong performance over the past year, with a return of 84.72%, and has consistently outperformed the BSE500 index over the last three years. The company has reported impressive growth metrics, including a 25.02% annual increase in net sales and a 174.22% rise in net profit, which have contributed to its positive outlook.
In the broader market context, the stock's short-term performance over the past week shows a slight increase of 0.05%, while the benchmark Sensex has risen by 0.49%. This indicates that while HBL Engineering has had a strong long-term performance, its recent price movement is not aligned with the overall market trend. The stock's high valuation, indicated by a Price to Book Value of 20.6, may be contributing to the current price decline, as it trades at a premium compared to its peers. Additionally, the recent drop in the batteries sector by 3.78% may also be impacting investor sentiment towards HBL Engineering, despite increasing participation from institutional investors.