Why is Universal Cables falling/rising?

As of 22-Sep, Universal Cables Ltd. is experiencing a decline in its stock price, currently at Rs 774.70, which reflects a decrease of Rs 25.75 or 3.22%. Today's trading saw the stock open with a gain of 2.37%, reaching an intraday high of Rs 823.6, but it ultimately fell to a low of Rs 769.95. Despite a recent trend of three consecutive days of gains, the stock has underperformed its sector by 2.41% today. Over the past week, Universal Cables has shown a positive return of 7.18%, and over the last month, it has increased by 7.33%. However, year-to-date, the stock is down 4.86%, although it has generated a notable return of 10.98% over the past year. The company's strong performance in terms of profit growth and attractive valuation metrics, such as a PEG ratio of 0.8, suggest underlying strength, but the recent price movement indicates a short-term correction.
In the broader market context, the Sensex has only increased by 0.46% over the past week, indicating that Universal Cables' short-term performance is significantly outperforming the benchmark. This suggests that while the stock is currently facing a decline, it has been resilient compared to the overall market. The stock's liquidity is adequate for trading, and rising investor participation is evident with a 55.66% increase in delivery volume. Despite the recent price drop, the company has consistently delivered returns over the last three years and has a majority of its shares held by promoters, which may provide some stability. Overall, while the stock is currently falling, its long-term fundamentals remain strong, which could support future recovery.