Why is Polycab India falling/rising?

As of 03-Jul, Polycab India Ltd's stock price is currently at 6,795.90, reflecting an increase of 25.65, or 0.38%. The stock has shown strong performance recently, gaining 16.77% over the last 10 days, although it underperformed its sector by 1.05% today. In terms of returns, Polycab has outperformed the benchmark Sensex over the past week and month, with increases of 5.08% and 15.87%, respectively. The company benefits from strong fundamentals, including a low debt-to-equity ratio and impressive growth in net sales and operating profit. Additionally, high institutional holdings at 22.06% indicate confidence from knowledgeable investors, further supporting the stock's upward movement.
Broader market context shows that while Polycab India has experienced a decline of 6.54% year-to-date, it has significantly outperformed the Sensex over the past three years, with a return of 212.39% compared to the benchmark's 57.33%. This suggests that despite some short-term volatility, the stock has strong long-term growth potential. The broader market has seen a slight decline, as indicated by the Sensex's 0.62% drop over the past week, which contrasts with Polycab's positive performance, highlighting the company's resilience and appeal to investors.