Why is J K Cements falling/rising?

As of 22-Sep, J K Cements Ltd is currently priced at 6,834.50, reflecting a decrease of 35.9 points or 0.52%. The stock has recently experienced a trend reversal, falling after four consecutive days of gains. Despite this decline, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend over a longer period. The stock has shown strong performance over the past year, generating a return of 46.82%, and has outperformed the BSE500 in each of the last three annual periods. However, its recent performance today underperformed the sector by 0.84%. Positive financial results, including significant growth in profit before tax and profit after tax, alongside high institutional holdings, suggest strong fundamentals. Nevertheless, the stock's high valuation metrics, such as a PEG ratio of 9.6, may contribute to investor caution.
In the broader market context, J K Cements has outperformed the Sensex over the past week, with a return of 5.82% compared to the benchmark's 0.46%. However, over the past month, the stock has slightly underperformed the Sensex, with a return of -0.12% against the benchmark's 1.05%. This mixed performance indicates that while the stock has shown resilience and strong returns over the longer term, recent fluctuations may be influenced by market sentiment and valuation concerns. The significant increase in delivery volume suggests rising investor participation, which could provide support for the stock despite its current decline.