Why is Polycab India falling/rising?

As of 26-Jun, Polycab India Ltd's stock price is currently at 6,467.55, reflecting an increase of 26.85 or 0.42%. The stock has shown a strong performance recently, gaining 11.13% over the past week and trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there has been a notable decline in investor participation, with delivery volume dropping by 34.66% compared to the 5-day average. Despite this, the company is characterized by low debt and strong long-term fundamentals, with impressive growth in net sales and operating profit, which has contributed positively to its recent stock movement. Nonetheless, the stock has underperformed over the past year, generating a return of -9.95%, despite a rise in profits.
In the broader market context, Polycab India has outperformed the benchmark Sensex in the short term, with a 1-week return of 11.13% compared to the Sensex's 2.94%. However, the stock's year-to-date performance remains concerning, as it has declined by 11.06% while the Sensex has gained 7.19%. The high institutional holdings at 22.06% suggest confidence from larger investors, but the stock's valuation appears expensive, which may deter some investors. Overall, while the recent gains indicate positive sentiment, the long-term underperformance and high valuation could pose risks to sustained growth.