Why is J K Cements falling/rising?

As of 21-Aug, J K Cements Ltd is experiencing a decline in its stock price, currently at Rs 7,134.70, reflecting a decrease of Rs 390.3 or 5.19%. Today's price summary indicates that the stock has underperformed its sector by 4.97% and has fallen after four consecutive days of gains, touching an intraday low of Rs 7,080.3. Despite this drop, the stock has shown strong performance over the past month, with a return of 11.58%, and has significantly outperformed the benchmark Sensex over various periods, including a year-to-date return of 55.24%. Positive factors contributing to the stock's overall strength include impressive financial results, with a 75.1% growth in PAT and a high institutional holding of 40.62%, indicating strong investor confidence. However, concerns about its high valuation, as indicated by a ROCE of 13.9 and a PEG ratio of 10, may be influencing the recent price decline.
In the broader market context, J K Cements' short-term performance has been slightly better than the benchmark, with a 1-week return of 1.83% compared to the Sensex's 1.74%. Despite the current price drop, the stock has shown consistent returns over the last three years, outperforming the BSE500 in each of the last three annual periods. This suggests that while the stock is facing short-term volatility, its long-term growth potential remains strong, supported by solid financial fundamentals and rising investor participation.