Why is HPCL falling/rising?

As of 09-Jul, Hindustan Petroleum Corporation Ltd. (HPCL) is experiencing a decline in its stock price, currently at 445.05, which reflects a decrease of 7.65 or 1.69%. The stock has recently underperformed its sector by 0.55% and has fallen after three consecutive days of gains. It touched an intraday low of Rs 443.2, indicating a 2.1% drop. Despite this decline, HPCL has shown strong performance over various periods, with a 34.46% return over the past year and a significant 179.28% increase over the last three years. The company also boasts a high dividend yield of 3.64%, and its moving averages indicate it is trading above several key averages, suggesting a generally positive long-term outlook. However, the stock's profits have fallen by 57.9% over the past year, which may contribute to the current price movement.
In the broader market context, HPCL's recent performance contrasts with the Sensex, which has only increased by 0.15% over the past week. While HPCL has outperformed the benchmark with a 1.87% gain over the last week and a 9.01% increase over the past month, the current decline may reflect a temporary correction after a period of strong gains. Additionally, a decrease in investor participation, as indicated by a 15.27% drop in delivery volume, could be influencing the stock's downward movement. Despite high institutional holdings at 36.12% and strong long-term growth indicators, the recent profit decline and sector underperformance may be causing some investors to reassess their positions, contributing to the stock's current price drop.