Why is Ravindra Energy falling/rising?

As of 24-Sep, Ravindra Energy Ltd's stock price is currently at Rs 170.95, reflecting a decline of Rs 2.25 or 1.3%. The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 6.35% during this period. Today's trading saw the stock reach an intraday low of Rs 167.55, and the volume traded was notably lower than the average, indicating reduced investor participation. Despite the recent downturn, the company has shown strong financial performance, with a net profit growth of 73.26% and significant increases in net sales and profit before tax compared to previous quarters, which suggests underlying strength that may support future recovery.
In the broader market context, Ravindra Energy's short-term performance has been less favorable compared to the benchmark, with a 1-week return of -5.84% against the Sensex's -1.18%. However, the stock has outperformed the benchmark over longer periods, including a 35.78% increase year-to-date and a remarkable 165.24% rise over the past three years. The recent decline in the stock price may be influenced by sector-wide challenges, as the power generation and distribution sector has also seen a decrease of 2.2%. Overall, while the stock is currently facing downward pressure, its long-term performance remains strong, indicating potential for recovery as market conditions improve.