Why is Poly Medicure falling/rising?

As of 26-Jun, Poly Medicure Ltd's stock price is currently at Rs 2,191.05, reflecting a slight increase of 2.05 (0.09%). The stock has shown a positive trend recently, gaining 3.48% over the last two days and outperforming its sector by 0.5% today. Despite a decline of 10.23% over the past month, the stock has delivered a strong performance over the last three years, with a remarkable increase of 192.43%. The company has consistently reported positive results for the last 11 quarters, with net sales reaching their highest at Rs 440.83 crore and a significant growth in profit before tax. However, the stock is facing challenges with falling investor participation, as evidenced by a 68.54% drop in delivery volume compared to the five-day average.
In the broader market context, Poly Medicure's recent performance has outpaced the benchmark Sensex, which has risen by 2.94% over the past week. While the stock has shown resilience with a 9.15% return over the past year, it is trading at a premium compared to its peers, indicated by a high price-to-book value ratio. This expensive valuation, combined with a relatively high PEG ratio of 2.7, suggests that the stock may be overvalued despite its strong fundamentals and institutional backing. Overall, while the stock's recent gains reflect positive company performance, concerns about valuation and declining trading volume may temper investor enthusiasm.