Why is ITD Cem falling/rising?

As of 10-Jul, ITD Cementation India Ltd is experiencing a decline in its stock price, currently at Rs 880.10, which reflects a decrease of Rs 23.4 or 2.59%. Today's price summary indicates that the stock underperformed its sector by 2.47%, hitting an intraday low of Rs 868.55, a drop of 3.87%. Despite this short-term decline, the stock has shown strong performance over the longer term, with a 63.25% increase year-to-date and an impressive 81.74% rise over the past year. The company benefits from high management efficiency, a low debt-to-equity ratio, and consistent positive results over the last ten quarters, which contribute to its overall positive outlook. However, the stock's valuation appears very expensive, with a high ROCE of 32.4 and a PEG ratio of 1.1, which may be causing some investor caution.
In the broader market context, the stock's short-term performance of -3.12% over the past week contrasts with the Sensex, which has remained relatively flat with a change of -0.06%. While ITD Cementation has outperformed the benchmark significantly over longer periods, the recent decline may reflect profit-taking or concerns over its high valuation compared to peers. The rising investor participation, indicated by an 18.13% increase in delivery volume, suggests that there is still interest in the stock despite the recent price drop. Overall, while the company has strong fundamentals, the current market sentiment may be influenced by its perceived overvaluation and recent price movements.