Why is J K Cements falling/rising?

As of 28-Jul, J K Cements Ltd is experiencing a decline in its stock price, currently at Rs 6,445.50, which reflects a decrease of Rs 38.4 or 0.59%. The stock has underperformed its sector by 0.39% today and has been on a downward trend for the last two days, accumulating a total drop of 2.72%. Despite this recent decline, the stock has shown strong performance over the longer term, with a 46.73% increase over the past year and a remarkable 164.65% rise over the last three years. Positive financial results, including a significant growth in profit before tax and profit after tax, alongside high institutional holdings, suggest a solid foundation for the stock. However, the stock's high valuation metrics, such as a ROCE of 13.9 and a PEG ratio of 9, indicate that it may be considered expensive, which could be contributing to the recent price pressure.
In the broader market context, J K Cements has outperformed the benchmark Sensex in both the short and long term, with a 1-week return of 0.80% compared to the Sensex's decline of 1.59%. This indicates that while the stock is currently facing some short-term challenges, its overall performance remains strong relative to the market. The stock's liquidity remains adequate, but a notable decrease in delivery volume suggests a potential decline in investor interest, which could further influence its price movement.