Why is Polycab India falling/rising?

As of 17-Jul, Polycab India Ltd is currently priced at 6,876.00, reflecting a decline of 65.45 points or 0.94%. The stock has been underperforming recently, having fallen for the last two consecutive days with a total return decrease of 1.01%. Despite this short-term decline, the stock has shown positive performance over the past week, gaining 1.23%, and has outperformed the benchmark Sensex over the last month with a notable increase of 13.97%. However, today's trading volume indicates a decrease in investor participation, with delivery volume down by 18.51% compared to the five-day average. The company maintains strong fundamentals, characterized by low debt levels and robust long-term growth, as evidenced by a 20.47% annual growth rate in net sales and a high return on capital employed of 31.10%.
Broader Market Context: In the context of the broader market, Polycab India has been performing better than the Sensex over the past week and month, but it has underperformed in the year-to-date comparison, with a decline of 5.44% against the Sensex's gain of 5.27%. The stock's liquidity remains adequate for trading, which may help mitigate some of the negative sentiment reflected in its recent price movement. Additionally, the high institutional ownership at 22.06% suggests that informed investors are backing the company, which could provide some stability despite the recent price drop. Overall, while the stock has shown resilience in the long term, recent trends indicate a cautious sentiment among investors, contributing to its current decline.