Why is Polycab India falling/rising?

As of 05-Sep, Polycab India Ltd is experiencing a slight decline in its stock price, currently at 7,235.00, reflecting a decrease of 10.0 points or 0.14%. The stock has recently seen a trend reversal, falling after six consecutive days of gains. Despite this drop, Polycab India is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend over the longer term. The company has shown strong long-term fundamentals, with net sales growing at an annual rate of 24.63% and a low debt-to-equity ratio. However, there has been a decline in investor participation, as evidenced by a 4.94% drop in delivery volume compared to the 5-day average. The stock has outperformed the benchmark Sensex in the short term, with a 1-week return of 1.90% compared to the benchmark's 1.13%.
In the broader market context, Polycab India's performance has been strong relative to the benchmark over various periods, including a 4.46% increase over the past month, while the Sensex remained flat. The company boasts high institutional holdings at 23.05%, which suggests confidence from knowledgeable investors. However, the stock is considered expensive with a high price-to-book value and a PEG ratio of 2, which may deter some investors. Despite the recent price decline, the company's strong fundamentals and market position as a leading player in its sector contribute to its overall resilience in the market.