Why is Hind Rectifiers falling/rising?

As of 19-Aug, Hind Rectifiers Ltd is experiencing a price increase, with the current price at Rs 2,035.75, reflecting a rise of Rs 33.75 or 1.69%. The stock has shown strong performance recently, gaining 7.14% over the last three days and is currently just 2.08% away from its 52-week high of Rs 2,078.05. The company has reported impressive financial results, including a net profit growth of 84.85% and consistent positive results for the last 11 quarters. Additionally, the stock has outperformed the BSE500 index over the past year, generating a return of 139.11%, which significantly surpasses the benchmark's performance.
In the broader market context, Hind Rectifiers has outperformed the Sensex, which has only increased by 1.76% over the past week. The stock's strong liquidity, evidenced by a 134.32% increase in delivery volume, indicates rising investor interest. However, concerns about its high valuation relative to its return on capital employed and the lack of domestic mutual fund investment may temper enthusiasm. Despite these risks, the stock's consistent returns and positive financial metrics contribute to its upward price movement.