Why is Torrent Power falling/rising?

As of 04-Aug, Torrent Power Ltd. is experiencing a price increase, with the current price at Rs 1,312.60, reflecting a rise of 24.4 points or 1.89%. Today's performance indicates a trend reversal, as the stock has gained after two consecutive days of decline. Despite this uptick, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, Torrent Power has underperformed the market, with a return of -2.18% compared to a slight gain of +0.16% in the Sensex. However, the company has shown healthy long-term growth, with net sales increasing at an annual rate of 16.41%, and it has reported strong quarterly results, including a record PAT of Rs 1,059.57 crore and an EPS of Rs 21.03.
In the broader market context, while Torrent Power has underperformed significantly over the past year with a return of -29.07%, the benchmark Sensex has only slightly increased by 0.05%. This stark contrast highlights the challenges faced by the stock, despite its positive fundamentals such as a low debt-equity ratio and high institutional holdings at 39.57%. The stock's PEG ratio of 0.4 suggests it is undervalued compared to its earnings growth, yet the falling investor participation, as indicated by a 9.17% drop in delivery volume, raises concerns about its short-term momentum. Overall, while there are positive indicators for long-term growth, the recent performance and market conditions suggest a cautious outlook for Torrent Power.