Why is Hind Rectifiers falling/rising?

As of 25-Aug, Hind Rectifiers Ltd's stock price is currently at Rs 1,599.50, reflecting a decrease of Rs 52.85 or 3.2%. The stock has been on a downward trend, having fallen for the last four consecutive days, resulting in a total decline of 21.43% during this period. Today's performance indicates that it underperformed its sector by 4.16%, with an intraday low of Rs 1,591.7. Although the stock has shown strong performance over the past year with a 67.10% return, recent trading activity reveals a decrease in investor participation, with delivery volume dropping by 31.29% compared to the five-day average. The company's strong financial results, including an 84.85% growth in net profit and consistent positive quarterly results, contrast with its expensive valuation metrics and lack of domestic mutual fund investment, which may contribute to the current selling pressure.
In the broader market context, the stock's short-term performance has significantly lagged behind the benchmark, with a 20.10% decline over the past week compared to a modest 0.45% increase in the Sensex. Despite the stock's impressive long-term returns, including an 852.08% increase over three years, the recent downturn suggests that market sentiment may be shifting, particularly as the stock trades below its moving averages for shorter periods. This combination of declining investor interest, high valuation concerns, and underperformance relative to the benchmark indicates that the stock's recent price movement is influenced by both internal financial metrics and external market conditions.