Why is Polycab India falling/rising?

As of 15-Jul, Polycab India Ltd's stock price is rising, currently at Rs 6,946.35, reflecting an increase of Rs 148.8 or 2.19%. The stock has shown strong performance recently, gaining 3.75% over the last two days and outperforming its sector by 0.31% today. It has consistently traded above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Additionally, the company has reported impressive financial metrics, including a record net sales figure of Rs 6,985.80 crore and a high operating profit margin of 14.68%. With a low debt-to-equity ratio and a robust return on capital employed averaging 31.10%, Polycab India demonstrates strong long-term fundamental strength, which supports its rising stock price.
In the broader market context, Polycab India has outperformed the benchmark Sensex in the short term, with a 1-week return of +3.06% compared to the Sensex's -1.36%. While the stock has experienced a year-to-date decline of 4.47%, its long-term performance remains strong, with a 3-year return of 222.38% compared to the Sensex's 53.59%. The high institutional holdings at 22.06% suggest confidence from knowledgeable investors, further bolstering the stock's upward movement. However, it is worth noting that there has been a decline in investor participation, with delivery volume falling by 8.32% against the 5-day average, which could be a point of concern moving forward.