Why is ITD Cem falling/rising?

As of 03-Jul, ITD Cementation India Ltd is currently priced at 908.40, experiencing a decline of 20.6 points, or 2.22%. The stock has shown strong performance over the past month, with a return of 22.92%, and has significantly outperformed the benchmark Sensex, which has only increased by 3.10% in the same period. However, today's performance indicates a slight underperformance against its sector by 1.99%. The stock is trading close to its 52-week high, just 3.83% away, but has seen a decrease in investor participation, with delivery volume falling by 44.65% against the 5-day average. Despite these challenges, ITD Cementation has demonstrated high management efficiency and consistent returns over the past three years, which supports its long-term growth potential.
In the broader market context, while ITD Cementation has outperformed the Sensex over the past week with a return of 3.57% compared to the benchmark's decline of 0.62%, the current decline in its stock price may reflect concerns over its high valuation metrics, such as a ROCE of 32.4 and a PEG ratio of 1.2, which suggest it may be considered expensive relative to its earnings growth. Additionally, the stock's liquidity remains adequate for trading, but the recent drop in delivery volume could indicate waning investor interest. Overall, while the company has strong fundamentals and has consistently delivered positive results, the recent price movement may be influenced by market sentiment regarding its valuation and reduced trading activity.