Why is Indian Hume Pipe falling/rising?

As of 08-Jul, Indian Hume Pipe Company Ltd is experiencing a decline in its stock price, currently at 455.90, which reflects a decrease of 7.2 points or 1.55%. The stock has underperformed its sector by 0.94% today and has seen a trend reversal after six consecutive days of gains. It reached an intraday low of Rs 451.7, indicating a drop of 2.46%. Despite this short-term decline, the stock has shown strong performance over longer periods, with a 1-month return of 7.04% and a year-to-date return of 26.18%. The company has a solid return on capital employed (ROCE) of 13.4 and is trading at a discount compared to its peers, which may support its valuation despite the recent price drop.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has only increased by 0.02% over the past week. While Indian Hume Pipe has outperformed the benchmark in the longer term, the current decline may reflect profit-taking after a strong rally. The stock's liquidity remains healthy, with a delivery volume increase of 10.33% against the 5-day average, suggesting that investor interest is still present. However, the recent drop in price could be a natural correction following its substantial gains, as evidenced by consistent returns over the past three years, where it has outperformed the BSE500 in each annual period.