Why is Cummins India falling/rising?

As of 17-Jul, Cummins India Ltd. is experiencing a price increase, currently at 3,593.80, reflecting a change of 41.7 or 1.17% upward. The stock has shown strong performance in the short term, with a 1-week return of +2.30% compared to a decline of -1.12% in the Sensex. Additionally, it has outperformed its sector by 1.05% today. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, there is a noted decline in investor participation, with delivery volume falling by -43.93% against the 5-day average. The company benefits from strong long-term fundamentals, including a healthy average Return on Equity (ROE) of 20.76% and significant institutional holdings at 40.15%, which may contribute to investor confidence despite its high valuation compared to peers.
In the broader market context, Cummins India's recent performance contrasts sharply with the benchmark, as it has outperformed the Sensex over the past week and month, with returns of +2.30% and +8.44%, respectively, while the Sensex has shown negative returns in the same periods. This suggests that investor sentiment towards Cummins India is relatively strong despite the overall market conditions. However, the stock's performance over the past year has been less favorable, with a return of -6.98%, indicating potential volatility. The company's high Price to Book Value ratio and a PEG ratio of 3.1 suggest that it is trading at a premium, which could be a concern for some investors, particularly in light of flat results reported in March 2025.