Why is Hind Rectifiers falling/rising?

As of 21-Jul, Hind Rectifiers Ltd is experiencing a decline in its stock price, currently at Rs 1,334.30, reflecting a decrease of Rs 2.1 or 0.16%. Today's price summary indicates that the stock opened lower, with a gap down of 2.36%, and has touched an intraday low of Rs 1,304.9. Despite this drop, the stock has shown strong performance over the past year, with a remarkable increase of 92.54%, and has consistently outperformed the BSE500 in the last three annual periods. The company has also reported positive financial results over the last ten consecutive quarters, with significant growth in profit before tax and net sales, which could support a more favorable long-term outlook despite the current decline.
In the broader market context, Hind Rectifiers' short-term performance has been relatively strong compared to the benchmark, with a 1-week return of 2.48% against a slight decline of 0.06% for the Sensex. However, the stock has underperformed its sector today by 0.45%, indicating some immediate selling pressure. The overall market sentiment may be influencing the stock's current movement, as it has fallen after two consecutive days of gains, suggesting a potential trend reversal. Despite the recent downturn, the stock remains above its moving averages, indicating a generally positive long-term trend, although the immediate market reaction appears to be negative.