Why is Hind Rectifiers falling/rising?

As of 13-Aug, Hind Rectifiers Ltd is experiencing a decline in its stock price, currently at Rs 1,900.10, which reflects a decrease of Rs 9.45 or 0.49%. The stock has underperformed its sector by 1.87% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 0.52%. Despite touching an intraday high of Rs 1,948.5, the stock's recent performance shows a 1-week decline of 0.47%, although it has demonstrated significant growth over the past month with a return of 40.63%. The company has reported outstanding financial results, including an 84.85% increase in net profit and consistent positive results over the last 11 quarters, which have contributed to a remarkable 134.29% return over the past year. However, the stock is considered very expensive with a high valuation, and the lack of domestic mutual fund investment may indicate caution among institutional investors.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has remained relatively flat with a 0.01% decline over the past week. While Hind Rectifiers has outperformed the benchmark significantly over longer periods, including a 1-year return of 134.29% compared to the Sensex's 2.01%, the current short-term underperformance may reflect investor concerns regarding its high valuation and reduced participation in trading. The stock's liquidity remains adequate, but the falling delivery volume suggests a potential decrease in investor confidence, which could further influence its price movement in the near term.