Why is Polycab India falling/rising?

As of 01-Jul, Polycab India Ltd's stock price is rising, currently at Rs 6,660.00, reflecting an increase of Rs 117.7 or 1.8%. The stock has been on an upward trend, gaining for the last eight days and achieving a total return of 14.43% during this period. It has outperformed its sector by 1.61% today and is trading above all its moving averages, indicating strong momentum. Despite a significant drop in delivery volume by 58.63% compared to the five-day average, the company's fundamentals remain robust, with a low debt-to-equity ratio and strong long-term growth in net sales and operating profit. Positive quarterly results, including a 62.1% growth in profit before tax and a 58.0% increase in profit after tax, further bolster investor confidence.
In the broader market context, Polycab India has outperformed the Sensex in the short term, with a 1-week return of 4.99% compared to the Sensex's 2.00%. However, it is important to note that the stock has underperformed on a year-to-date basis, with a decline of 8.41% against the Sensex's gain of 7.11%. The high institutional holdings at 22.06% suggest that informed investors are backing the stock, which may contribute to its recent price rise. Overall, the combination of strong financial performance, positive market sentiment, and relative outperformance against the benchmark has contributed to the stock's upward movement.