Why is Polycab India falling/rising?

As of 02-Jul, Polycab India Ltd's stock price is rising, currently at 6,770.25, reflecting an increase of 110.25 or 1.66%. The stock has been on an upward trend, gaining for the last nine consecutive days and achieving a total return of 16.33% during this period. It has outperformed its sector by 1.85% today and shows strong performance over the past week and month, with returns of 5.12% and 14.41%, respectively. The company benefits from strong fundamentals, including a low debt-to-equity ratio and significant growth in net sales and operating profit, which have contributed to its positive momentum. Additionally, high institutional holdings at 22.06% suggest confidence from knowledgeable investors, further supporting the stock's rise.
In the broader market context, Polycab India has significantly outperformed the benchmark Sensex, which has only increased by 0.79% over the past week and 2.50% over the past month. While the stock has shown impressive short-term returns, it is important to note that its year-to-date performance remains negative at -6.89%, contrasting with the Sensex's positive return of 6.75%. The stock's liquidity remains adequate, although there has been a decline in delivery volume, which could indicate a potential slowdown in buying interest. Overall, the combination of strong recent performance, solid fundamentals, and institutional backing has contributed to the stock's rising price.