Why is Balkrishna Inds falling/rising?

As of 21-Jul, Balkrishna Industries Ltd is experiencing a price increase, currently trading at 2,773.50, reflecting a rise of 28.4 points or 1.03%. The stock has shown strong performance recently, outperforming its sector by 1.53% today and achieving a consecutive gain over the last three days with a total return of 4.85%. Additionally, it has outperformed the benchmark Sensex over the past week and month, with returns of +4.66% and +15.08%, respectively. However, the stock has faced challenges, including a significant drop in delivery volume, which fell by 62.4% compared to the five-day average. Despite these challenges, the company boasts high management efficiency with a return on capital employed (ROCE) of 15.96%, a low debt to EBITDA ratio of 0.81, and substantial institutional holdings at 35.34%, indicating strong investor confidence.
Broader market context shows that while Balkrishna Industries has performed well in the short term, it has underperformed against the benchmark over the longer term, with a year-to-date return of -4.69% compared to the Sensex's +5.20%. The stock's performance over the past year has also been disappointing, generating a return of -11.72%, which is significantly lower than the benchmark's +1.98%. This consistent underperformance over the last three years, coupled with a high valuation indicated by a PEG ratio of 2.6, suggests that while the stock is currently rising, it faces ongoing challenges that could impact its future performance.