Why is Polycab India falling/rising?

As of 10-Jul, Polycab India Ltd's stock price is rising, currently at 6,792.45, reflecting an increase of 88.15 or 1.31%. The stock has outperformed its sector by 0.85% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Over the past month, the stock has shown a significant gain of 10.55%, while its year-to-date performance is down by 6.59%. The company has demonstrated strong long-term fundamentals, with net sales growing at an annual rate of 20.47% and operating profit at 22.27%. Additionally, it has a low debt-to-equity ratio and a high return on capital employed, which supports its strong profitability. However, there is a noted decline in investor participation, with delivery volume falling by 0.95% against the 5-day average.
In the broader market context, Polycab India's short-term return of -0.05% over the past week is slightly better than the benchmark Sensex, which has decreased by 0.06%. Despite the recent decline in investor participation, the stock's solid performance over the last three years, with a return of 207.86%, and its high institutional holdings at 22.06% suggest confidence among larger investors. The company’s consistent returns and significant market capitalization, which constitutes 35.17% of its sector, further bolster its position. However, the stock's valuation is considered expensive, with a price-to-book value of 10.4, which may pose risks for potential investors.