Why is Polycab India falling/rising?

As of 14-Aug, Polycab India Ltd is experiencing a slight increase in its stock price, currently at 6,965.20, with a change of 1.8, representing a 0.03% rise. The stock has been gaining for the last four days, showing a total return of 3.14% during this period. Despite underperforming its sector by 0.36% today, Polycab India has demonstrated positive returns over the past week (+1.41%) and month (+2.47%), while also outperforming the benchmark Sensex over the last year (+8.64% vs. +1.89%). The company benefits from strong fundamentals, including low debt, healthy growth in net sales and operating profit, and high institutional holdings, which have increased by 0.99% over the previous quarter.
In the broader market context, while Polycab India has shown positive short-term returns, the Sensex has slightly declined by 0.03% over the same week. The stock's performance is notable given its consistent returns over the last three years, significantly outperforming the BSE500. However, the stock is trading at a premium compared to its peers, which may raise concerns about its valuation, particularly with a high Price to Book Value ratio. Despite these risks, the company's strong fundamentals and market position contribute to its recent price stability and slight upward movement.