Why is Ambuja Cements falling/rising?

As of 03-Jul, Ambuja Cements Ltd is currently priced at 588.50, reflecting a decrease of 6.3 points or 1.06%. The stock has recently experienced a trend reversal, falling after nine consecutive days of gains. Despite this decline, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend prior to this drop. The stock has shown a 3.74% increase over the past week and a 6.97% increase over the past month, although it has underperformed its sector by 0.7% today. Positive financial results, including a higher profit after tax and record net sales, along with a low debt-to-equity ratio and significant institutional holdings, suggest that the fundamentals remain strong, which may support the stock despite the recent price decline.
In the broader market context, Ambuja Cements has outperformed the Sensex over the past week and month, with respective returns of 3.74% and 6.97% compared to the Sensex's -0.62% and +3.10%. However, the stock has underperformed over the past year, with a decline of 15.01% against the Sensex's gain of 4.07%. This indicates that while the stock has shown resilience in the short term, its long-term performance has been less favorable. The recent drop in price may be seen as a correction after a period of strong performance, but the underlying positive financial indicators and rising investor participation suggest that there may be potential for recovery in the near future.