Why is ITD Cem falling/rising?

As of 04-Jul, ITD Cementation India Ltd is currently priced at 900.40, reflecting a decrease of 8.0 points or 0.88%. The stock has underperformed its sector by 1.3% today and has experienced a consecutive decline over the last two days, resulting in a total drop of 3.08%. Despite opening with a gain of 2.36% and reaching an intraday high of Rs 933, the stock is now 4.75% away from its 52-week high of Rs 943.2. Over the past week, the stock has shown a positive return of 1.23%, and it has significantly outperformed the benchmark Sensex with a year-to-date return of 67.02% compared to the Sensex's 6.77%. However, there has been a notable decline in investor participation, with delivery volume falling by 38.08% against the 5-day average, which may contribute to the current price movement.
In the broader market context, while ITD Cementation has shown strong long-term growth with consistent returns over the past three years, the recent price decline may be attributed to its high valuation metrics, such as a ROCE of 32.4 and a PEG ratio of 1.2, indicating that the stock is perceived as expensive relative to its earnings growth. Despite its strong fundamentals, including a high management efficiency and low debt-to-equity ratio, the stock's performance today suggests that investor sentiment may be cautious, particularly in light of the recent drop in trading volume. Overall, while the stock has demonstrated robust growth and institutional support, the recent price movement reflects a combination of short-term selling pressure and concerns over valuation.