Why is HPCL falling/rising?

As of 11-Jul, Hindustan Petroleum Corporation Ltd. is experiencing a decline in its stock price, currently at 435.75, which reflects a decrease of 5.45 points or 1.24%. The stock has been losing value for the last three days, resulting in a cumulative drop of 3.74% during this period. Despite this recent downturn, the stock has shown strong performance over the past month with a gain of 5.08% and a remarkable 24.50% increase over the last year. The stock is currently close to its 52-week high, being only 4.92% away from the peak of Rs 457.2. Positive factors contributing to its valuation include a high dividend yield of 3.74%, healthy long-term growth in net sales, and strong institutional holdings at 36.12%. However, it is important to note that profits have fallen by 57.9% over the past year, which may be influencing investor sentiment negatively.
In the broader market context, the stock's short-term performance has underperformed compared to the benchmark Sensex, which has declined by only 1.12% over the same one-week period. While HPCL has shown consistent returns over the last three years, outperforming the BSE500, the recent consecutive falls may be causing concern among investors, particularly given the significant drop in profits despite a strong return on capital employed. The rising investor participation, indicated by an increase in delivery volume, suggests that some investors may still see value in the stock, but the overall sentiment appears to be cautious in light of the recent price movements and profit declines.