Why is Polycab India falling/rising?

As of 07-Aug, Polycab India Ltd is experiencing a price increase, currently at 6,868.60, reflecting a rise of 45.5 points or 0.67%. The stock has outperformed its sector by 0.37% today and is trading above all its moving averages, indicating a strong upward trend. Over the past week, Polycab has shown a modest gain of 0.57%, while its performance over the last month is up by 2.63%. Despite a year-to-date decline of 5.54%, the stock has demonstrated resilience with a 2.40% return over the past year and an impressive 191.04% increase over the last three years. The company's strong fundamentals, including a low debt-to-equity ratio and significant growth in net sales and operating profit, contribute positively to its stock performance. Additionally, high institutional holdings, which have increased by 0.99% in the last quarter, suggest confidence in the company's long-term prospects.
In the broader market context, Polycab's short-term performance contrasts with the Sensex, which has declined by 0.69% over the past week and 3.38% over the past month. This indicates that while the overall market is facing challenges, Polycab is managing to rise, likely due to its strong financial fundamentals and growth potential. However, it is important to note that the stock is trading at a premium compared to its peers, which may pose risks if market conditions shift. The recent decline in investor participation, with a 45.36% drop in delivery volume, could also be a concern for future price movements, despite the current upward trend.