Why is Polycab India falling/rising?

As of 11-Aug, Polycab India Ltd's stock price is currently at 6,753.85, reflecting a slight increase of 0.95 (0.01%). Despite this minor uptick, the stock has been experiencing a downward trend, having fallen consecutively for the last two days with a total decline of -1.96%. In the past week, the stock has underperformed with a -2.45% return compared to the benchmark Sensex, which declined by only -0.51%. However, over the past month, Polycab has shown a positive return of +0.87%, while the Sensex fell by -2.30%. The company benefits from strong long-term fundamentals, including low debt levels and significant growth in net sales and operating profit, which may support its price stability despite recent volatility. Additionally, high institutional holdings at 23.05% indicate confidence from larger investors, which can positively influence stock performance.
In the broader market context, Polycab's recent performance contrasts with the benchmark, as it has struggled in the short term while the Sensex has shown relative resilience. The stock's liquidity appears adequate, although there has been a notable decline in delivery volume, which fell by -56.46% against the 5-day average, suggesting reduced investor participation. This decline in trading activity, combined with the stock's relatively high valuation metrics, may contribute to the cautious sentiment among investors. Overall, while Polycab India has demonstrated strong long-term growth and profitability, the recent price movements reflect a complex interplay of short-term challenges and broader market dynamics.