Why is Pidilite Inds. falling/rising?

As of 29-Jul, Pidilite Industries Ltd is currently priced at 2,895.45, reflecting an increase of 24.3, or 0.85%. The stock has shown a trend reversal by gaining after five consecutive days of decline, although it is still trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite today's performance, the stock has underperformed the benchmark over the past week and month, with returns of -1.33% and -5.13%, respectively. Additionally, the stock has experienced a decline in investor participation, as evidenced by a 13.54% drop in delivery volume compared to the 5-day average. While the company boasts high management efficiency with a return on equity (ROE) of 19.89% and low debt-to-equity ratio, it faces challenges due to a high valuation and consistent underperformance against benchmarks over the last three years.
In the broader market context, Pidilite Industries has lagged behind the Sensex, which has shown a decline of only 1.03% over the past week and 3.24% over the past month. This underperformance is compounded by the company's flat results reported in March and a high price-to-book value ratio, indicating that the stock may be considered expensive relative to its earnings growth. Despite the high institutional holdings at 21.29%, which typically provide a buffer against volatility, the stock's negative returns over the past year and high PEG ratio of 4 suggest that investors may be cautious, leading to the observed price movements.