Why is Hikal falling/rising?

As of 08-Aug, Hikal Ltd's stock price is currently at Rs 290.05, reflecting a decrease of Rs 1.25 or 0.43%. The stock has been on a downward trend, having fallen consecutively for the last three days, resulting in a total decline of 8.05% during this period. It opened the day with a loss of 2.78% and touched an intraday low of Rs 283.2. Additionally, Hikal is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. The stock is also close to its 52-week low, being only 2.81% away from Rs 281.55. Despite these challenges, it outperformed its sector by 0.61% today, and there has been a notable increase in investor participation, with delivery volume rising by 227.14% compared to the 5-day average.
In the broader market context, Hikal's short-term performance has been significantly weaker than the benchmark, with a 1-week decline of 8.56% compared to the Sensex's drop of only 0.92%. Over the past month, Hikal has decreased by 15.79%, while the Sensex has fallen by 4.60%. Year-to-date, Hikal's stock has declined by 25.58%, contrasting sharply with the Sensex's modest gain of 2.20%. This stark difference in performance highlights the challenges Hikal is facing relative to the overall market, contributing to the negative sentiment surrounding its stock price.