Why is Polycab India falling/rising?

As of 29-Aug, Polycab India Ltd is experiencing a slight increase in its stock price, currently at 7,100.00, reflecting a change of 4.85 (0.07%) upward. The stock has shown a positive performance today, outperforming its sector by 0.34% and has been on a consecutive gain for the last two days, rising by 0.9% during this period. Additionally, Polycab India is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. The company has demonstrated robust long-term fundamentals, with net sales growing at an annual rate of 24.63% and operating profit at 29.46%. Furthermore, the stock has high institutional holdings at 23.05%, which have increased by 0.99% over the previous quarter, suggesting confidence from larger investors. In the broader market context, Polycab India has outperformed the benchmark Sensex in the short term, with a 1-month return of +1.97% compared to the Sensex's -1.88%. This performance is notable given the stock's ability to generate a 5.33% return over the past year while the Sensex has declined by 2.83%. However, it is important to note that despite its strong fundamentals, the stock is considered expensive with a high Price to Book Value of 10.9, which may pose a risk for some investors. Overall, the combination of strong recent performance, positive institutional sentiment, and solid growth metrics contributes to the stock's rising price.