Why is Polycab India falling/rising?

As of 02-Sep, Polycab India Ltd is currently priced at 7,179.35, reflecting an increase of 33.8 points or 0.47%. The stock has shown a positive trend, gaining 1.95% over the last four days, although it underperformed its sector by 0.57% today. In terms of returns, Polycab has outperformed the benchmark Sensex over the past week and month, with increases of 2.03% and 7.17%, respectively. The company benefits from strong long-term fundamentals, including a low debt-to-equity ratio and significant growth in net sales and operating profit. However, it faces challenges with a high valuation, as indicated by its price-to-book ratio and a relatively high PEG ratio.
Broader market context indicates that while Polycab India has performed well in the short term, the overall market, represented by the Sensex, has seen a decline of 0.78% over the past week and 0.55% over the past month. Despite this, Polycab's strong institutional holdings and consistent performance in terms of sales growth and profitability suggest that it remains a solid investment choice, even as it trades at a premium compared to its peers. The liquidity of the stock remains adequate, although there has been a decline in investor participation recently, which could impact future price movements.