Why is Polycab India falling/rising?

As of 28-Aug, Polycab India Ltd's stock price is rising, currently at 7,095.15, reflecting an increase of 58.3 or 0.83%. The stock has shown a trend reversal, gaining after two consecutive days of decline. It has outperformed its sector by 1.29% today, and the delivery volume has increased by 26.9% compared to the five-day average, indicating rising investor participation. Over the past week, the stock has seen a marginal increase of 0.03%, while it has performed better than the benchmark Sensex, which has declined by 2.34%. The company has demonstrated strong long-term fundamentals, with net sales growing at an annual rate of 24.63% and a low debt-to-equity ratio, contributing to positive investor sentiment.
In the broader market context, Polycab India Ltd's recent performance contrasts with the Sensex's decline, showcasing its resilience and market-beating performance over the long term. The stock has generated a return of 4.96% over the past year, while the Sensex has fallen by 2.08%. Despite its strong fundamentals and high institutional holdings, the stock is considered expensive with a high price-to-book value, which may pose risks for potential investors. However, the company's significant market capitalization and its dominance in the sector, constituting 36.61% of the entire industry, further bolster its position in the market.