Why is Hind Rectifiers falling/rising?

As of 30-Jun, Hind Rectifiers Ltd is experiencing a price increase, with the current price at Rs 1,289.95, reflecting a rise of 25.4 points or 2.01%. The stock has shown strong performance today, outperforming its sector by 2.68% and gaining 3.12% over the last two days. It opened with a significant gain of 6.76% and reached an intraday high of Rs 1,388.3, indicating high volatility with an intraday fluctuation of 5.27%. Despite a slight decline in its one-month performance of -0.15%, the stock has generated impressive returns of 91.74% over the past year and 620.64% over the last three years, consistently outperforming the BSE 500 index. The company has also reported positive financial results for the last ten consecutive quarters, with a notable growth in profit after tax and net sales, which supports the stock's upward movement.
In the broader market context, Hind Rectifiers' short-term return of +3.94% over the past week exceeds the Sensex's return of +2.09% during the same period. This indicates that the stock is gaining traction relative to the overall market. However, it is important to note that there has been a decline in investor participation, with delivery volume dropping significantly. Despite this, the stock remains liquid enough for trading, and its performance over the last year and three years suggests strong investor confidence, which may be contributing to its current price rise.