Why is A B B falling/rising?

As of 23-Jul, ABB India Ltd's stock price is currently at 5,710.30, reflecting a decrease of 44.75 points or 0.78%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 2.14% during this period. In terms of performance against benchmarks, the stock has shown a mixed trend; it has gained 3.04% over the past week but has decreased by 3.39% over the last month and 17.47% year-to-date. Despite the company demonstrating strong management efficiency with a high return on equity (ROE) of 15.88% and consistent positive results over the last 17 quarters, the stock's valuation appears expensive with a price-to-book value of 17.1, contributing to its recent price decline.
In the broader market context, while the Sensex has gained 0.11% over the past week and 1.01% over the last month, ABB India Ltd has underperformed significantly, particularly over the past year with a return of -24.04% compared to the market's 2.86% gain. This underperformance is compounded by a decrease in investor participation, as indicated by a 12.63% drop in delivery volume compared to the five-day average. Although the company has a strong market presence, constituting nearly 30% of its sector, the combination of high valuation concerns and recent negative price movements has led to a lack of investor confidence, contributing to the stock's current downward trend.