Why is Minda Corp falling/rising?

As of 04-Aug, Minda Corporation Ltd's stock price is currently at 497.70, reflecting an increase of 7.5, or 1.53%. Despite this uptick, the stock has underperformed its sector by 0.69% today and has been trading below its moving averages across various time frames. Over the past week, Minda Corp has seen a decline of 1.84%, and over the past month, it has dropped by 4.55%. However, the company has demonstrated strong fundamentals, including a low Debt to EBITDA ratio of 0.93 times, healthy long-term growth with net sales increasing at an annual rate of 16.59%, and high institutional holdings at 27%. Nevertheless, the recent quarterly profit after tax has fallen by 24.1% compared to the previous four-quarter average, contributing to a mixed outlook for the stock.
In the broader market context, the Sensex has shown a slight increase of 0.16% over the past week, while Minda Corp's performance has lagged behind with a decline. The auto ancillary sector has gained by 2.18%, indicating a positive trend in the industry that Minda Corp operates within. However, the stock's year-to-date return of 1.23% is lower than the Sensex's 3.69%, and its one-year return of -4.84% contrasts with the benchmark's minimal gain of 0.05%. This underperformance, coupled with a high PEG ratio of 3.8, suggests that while the stock has potential due to its strong fundamentals, it may currently be viewed as overvalued relative to its earnings growth, impacting investor sentiment.