Why is PNB Housing falling/rising?

As of 19-Aug, PNB Housing Finance Ltd's stock price is rising, currently at Rs 817.65, reflecting an increase of Rs 31.55 or 4.01%. The stock has outperformed its sector by 1.72% today and has experienced consecutive gains over the last two days, accumulating a total return of 6.61%. The stock reached an intraday high of Rs 824.6, indicating strong performance. Despite a decline of 24.11% over the past month, the company has reported positive results for the last 11 consecutive quarters, with net sales reaching a record high and a significant growth in profit before tax. The stock's attractive valuation, with a price-to-book ratio of 1.3 and a PEG ratio of 0.4, further supports its recent upward movement, especially given the high institutional holdings which have increased by 10.86%.
In the broader market context, PNB Housing Finance's short-term return of 6.66% over the past week significantly outpaces the Sensex, which has only risen by 1.76% in the same period. This indicates a strong relative performance against the benchmark. While the stock has faced challenges with a year-to-date decline of 7.09%, the recent positive momentum in the finance and housing sector, which has gained 2.28%, along with rising investor participation, suggests a favorable environment for the stock. However, it is important to note the long-term growth concerns, as net sales have shown a negative annual growth rate, which could impact future performance.