Why is J K Cements falling/rising?

As of 25-Jul, J K Cements Ltd is experiencing a decline in its stock price, currently at Rs 6,483.90, which reflects a decrease of Rs 141.6 or 2.14%. The stock has underperformed its sector by 1.44% today and has fallen after three consecutive days of gains. It is currently 3.68% away from its 52-week high of Rs 6,688.55. Despite a strong performance over the past year with a return of 47.26%, the stock's recent movement is influenced by a decrease in investor participation, as evidenced by a 6.29% drop in delivery volume compared to the 5-day average. Additionally, while the company has shown positive financial results, including significant growth in profit before tax and profit after tax, its high valuation metrics, such as a ROCE of 13.9 and a PEG ratio of 9.1, may be causing some investor caution.
In the broader market context, J K Cements has shown a positive return of 0.01% over the past week, while the benchmark Sensex has declined by 0.36%. Over the past month, J K Cements has outperformed the Sensex with a return of 7.70% compared to the benchmark's decline of 1.56%. This indicates that, despite the current decline, the stock has been resilient in the face of broader market challenges, particularly over longer periods, where it has significantly outperformed the Sensex and other benchmarks. However, the recent price drop may reflect a market correction or profit-taking after a strong performance, coupled with concerns over its high valuation relative to earnings growth.