Why is Polycab India falling/rising?

As of 04-Aug, Polycab India Ltd's stock price is rising, currently at Rs 6,923.75, reflecting an increase of Rs 225.75 or 3.37%. Today's performance indicates a trend reversal as the stock has gained after three consecutive days of decline, outperforming its sector by 2.08%. It reached an intraday high of Rs 6,936, and is trading above all its moving averages, which suggests positive momentum. Over the past week, the stock has increased by 1.26%, while it has shown a notable 3.30% rise over the past month, contrasting with the Sensex's decline of 2.89% during the same period. The company has demonstrated strong fundamentals, with a low debt-to-equity ratio and significant growth in net sales and operating profit, contributing to investor confidence.
In the broader market context, Polycab India's recent performance has outpaced the Sensex, which has only seen a 0.16% increase over the past week. The stock's strong institutional holdings at 23.05% further bolster its stability, as these investors typically possess greater analytical resources. However, it is important to note that the stock is trading at a premium compared to its peers, which may pose a risk for some investors. Despite this, the company's consistent returns over the last three years and robust growth metrics have likely contributed to the recent upward movement in its stock price.