Why is Polycab India falling/rising?

As of 14-Jul, Polycab India Ltd's stock price is rising, currently at Rs 6,797.55, reflecting an increase of Rs 102.05 or 1.52%. Today's price summary indicates that the stock opened with a gain of 2.31% and reached an intraday high of Rs 6,878.75, outperforming its sector by 0.97%. Over the past week, the stock has shown a return of +1.56%, while it has significantly outperformed the benchmark Sensex over the last month with a return of +12.74% compared to the Sensex's +1.40%. The company benefits from strong long-term fundamentals, including a low debt-to-equity ratio and impressive growth in net sales and operating profit. Additionally, high institutional holdings at 22.06% suggest confidence from knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, Polycab India's recent performance contrasts with the Sensex, which has declined by 1.42% over the past week. The stock's ability to maintain a positive trajectory amid a generally unfavorable market indicates strong investor confidence and liquidity, as evidenced by a 26.44% increase in delivery volume. Despite the stock's high valuation metrics, including a Price to Book Value of 10.4, its consistent returns and significant market capitalization position it favorably within its sector, contributing to its rising stock price.