Why is PNB Housing falling/rising?

As of 18-Sep, PNB Housing Finance Ltd is experiencing a price increase, currently at Rs 861.20, reflecting a rise of Rs 20.45 or 2.43%. The stock has shown a positive trend, outperforming its sector by 1.16% today and has gained consecutively for the last two days, accumulating a total return of 3.62% in this period. Despite this recent uptick, the stock has underperformed over the past year with a decline of 19.96%, although it has reported positive results for the last 11 consecutive quarters, including record net sales and profit before depreciation and interest. The stock's attractive valuation, with a price-to-book ratio of 1.3 and a PEG ratio of 0.4, suggests it is trading at fair value compared to its peers. However, the long-term growth outlook remains a concern due to a slight annual decline in net sales.
In the broader market context, PNB Housing has outperformed the Sensex in the short term, with a 1-week return of 6.09% compared to the benchmark's 1.80%. While the stock has shown resilience in the short term, it has faced challenges in the long term, as evidenced by its significant underperformance over the past year relative to the broader market, which saw a decline of only 1.96%. The stock's liquidity remains adequate, but a decrease in delivery volume indicates a potential decline in investor participation. High institutional ownership at 62.18% may provide some stability, as these investors typically have better resources to analyze the company's fundamentals.