Why is 360 ONE falling/rising?

As of 08-Jul, 360 ONE WAM Ltd is experiencing a decline in its stock price, currently at Rs 1,222.35, which reflects a decrease of Rs 15.25 or 1.23%. The stock has underperformed its sector by 1.18% today and has been on a downward trend for the last two days, accumulating a total loss of 1.78%. Despite a strong long-term performance, with a 25.29% return over the past year and consistent positive results over the last five quarters, the stock's recent movement is affected by a significant drop in delivery volume, which has decreased by 36.85% compared to the five-day average. Additionally, while the stock is trading above its moving averages, the current valuation appears expensive relative to its peers, contributing to investor caution.
In the broader market context, the stock's short-term performance contrasts with the Sensex, which has only seen a marginal increase of 0.02% over the past week. Although 360 ONE has shown impressive returns over longer periods, such as a 211.44% increase over three years, the recent decline highlights a potential disconnect between its strong fundamentals and current market sentiment. The stock's high price-to-book ratio and elevated PEG ratio suggest that investors may be reassessing its valuation, particularly in light of the recent profit growth of 33.9% not translating into sustained price appreciation.