Why is Polycab India falling/rising?

As of 18-Jul, Polycab India Ltd's stock price is currently at Rs 6,922.95, reflecting an increase of Rs 46.95, or 0.68%. The stock has shown positive momentum today, outperforming its sector by 1.65% and reversing a two-day decline. It reached an intraday high of Rs 7,080, marking a 2.97% increase. Over the past week, the stock has gained 3.40%, while its performance over the last month shows a significant rise of 15.58%. The company has demonstrated strong fundamentals, with a low debt-to-equity ratio and impressive growth in net sales and operating profit. Additionally, the recent positive results, including a 40.01% growth in profit after tax and a 25.29% increase in net sales over the last six months, have likely contributed to the stock's upward movement.
In the broader market context, Polycab India has outperformed the Sensex, which has declined by 0.90% over the past week. The stock's strong performance is further supported by high institutional holdings at 22.06%, indicating confidence from knowledgeable investors. The company's consistent returns over the past three years, including a 5.69% return in the last year, highlight its resilience compared to the broader market. With a market capitalization of Rs 1,03,488 crore, Polycab India remains a dominant player in its sector, constituting 35.11% of the entire industry, which reinforces its strong position amidst market fluctuations.