Why is Hind Rectifiers falling/rising?

As of 10-Sep, Hind Rectifiers Ltd is experiencing a price increase, currently at Rs 1,751.55, reflecting a rise of 12.15 points or 0.7%. The stock has shown a positive trend recently, gaining 5.73% over the last two days and opening with a 2.91% increase today. It has outperformed the Sensex over the past week with a return of 7.52% compared to the benchmark's 1.06%. The company has reported strong financial results, including an 84.85% growth in net profit and consistent positive results over the last 11 quarters, which supports investor confidence. However, the stock is considered expensive with a high valuation and low domestic mutual fund ownership, indicating potential caution among institutional investors.
In the broader market context, while Hind Rectifiers has outperformed the Sensex in the short term, it has underperformed its sector by 0.42% today. The stock's year-to-date return of 26.01% significantly exceeds the Sensex's 4.21%, showcasing its strong performance relative to the market. Despite the recent gains, the stock's long-term performance remains impressive, with a staggering 899.17% increase over the past three years, indicating robust investor interest. However, the lack of domestic mutual fund investment may suggest some underlying concerns about its valuation or business stability, which could impact future price movements.