Why is High Energy Bat. falling/rising?

As of 18-Jul, High Energy Batteries (India) Ltd is experiencing a decline in its stock price, currently at Rs 735.55, which reflects a decrease of Rs 13.45 or 1.8%. The stock has been underperforming recently, having fallen for three consecutive days with a total decline of 4.47% during this period. Additionally, the stock's performance today has underperformed its sector by 1.56%. In terms of returns, the stock has shown a negative performance of 4.03% over the past week and a decline of 9.13% over the past year, although it has increased by 20.19% year-to-date. Despite these recent challenges, the company has demonstrated strong financial health with a low Debt to EBITDA ratio of 0.57 times and has reported positive results after five consecutive negative quarters, which may indicate potential for recovery.
In the broader market context, the Sensex has also shown a slight decline of 0.90% over the past week, suggesting that the stock's short-term performance is not entirely isolated from market trends. However, the stock's year-to-date performance significantly outpaces the Sensex's 4.63% increase, indicating that while it is currently facing challenges, it has had a strong overall performance in 2023. The recent increase in promoter confidence, with a 1.17% rise in their stake, may also provide some support for the stock's future performance, despite the current downward trend.