Why is Torrent Power falling/rising?

As of 13-Oct, Torrent Power Ltd. is experiencing a price increase, currently at Rs 1,283.60, reflecting a rise of 44.4 points or 3.58%. Today's performance indicates that the stock has outperformed its sector by 2.97%, reaching an intraday high of Rs 1,287.4. Despite this positive movement, the stock has shown a year-to-date decline of 13.50% and a significant drop of 31.94% over the past year. The stock is trading at a discount compared to its peers, supported by a fair valuation indicated by a ROCE of 15.1 and a PEG ratio of 1.6. However, it has faced challenges with falling investor participation, as evidenced by a substantial decrease in delivery volume.
In the broader market context, Torrent Power's short-term return of 6.96% over the past week significantly outpaces the Sensex, which has only increased by 0.66%. This suggests that the stock is gaining traction relative to the market. However, the stock's long-term performance remains concerning, as it has underperformed the market over the past year, with a decline much steeper than the BSE500's negative return of 1.73%. High institutional holdings at 39.57% may provide some stability, as these investors typically have better resources to analyze the company's fundamentals, but the recent flat results in June and declining sales figures indicate underlying challenges that could affect future performance.