Why is Hind Rectifiers falling/rising?

As of 11-Aug, Hind Rectifiers Ltd is experiencing a price increase, currently at Rs 1,910.00, reflecting a rise of Rs 72.8 or 3.96%. Today's performance indicates a trend reversal as the stock has gained after four consecutive days of decline, outperforming its sector by 3.71%. The stock reached an intraday high of Rs 1,913, and despite a significant drop in delivery volume, the stock remains liquid enough for trading. Over the past month, Hind Rectifiers has shown impressive growth, with a return of 41.36%, and has consistently outperformed the benchmark BSE500 over the last three years, generating a remarkable 121.55% return in the past year. The company's strong financial performance, including an 84.85% growth in net profit and positive results for the last 11 quarters, supports the upward movement in its stock price.
In the broader market context, while Hind Rectifiers has outperformed the Sensex with a 1-week return of -4.03% compared to the Sensex's -0.51%, its strong year-to-date performance of +37.41% against the Sensex's +3.15% highlights its resilience. However, the stock's high valuation, indicated by a ROCE of 19.2 and a PEG ratio of 1, raises concerns about its sustainability. Additionally, the lack of domestic mutual fund investment, which stands at 0%, may suggest caution among institutional investors regarding the stock's current price levels. Overall, while the stock is rising due to strong fundamentals and recent performance, the valuation concerns and low institutional interest could pose risks moving forward.