Why is A B B falling/rising?

As of 01-Aug, ABB India Ltd's stock price is currently at Rs 5,397.45, reflecting a decline of Rs 113.95 or 2.07%. The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 3.28% during this period. In terms of performance relative to benchmarks, the stock has underperformed significantly, with a one-week return of -4.39% compared to the Sensex's -1.06%, and a year-to-date decline of 22.00% against the Sensex's positive return of 3.15%. Despite the company's strong fundamentals, including a high return on equity and consistent profit growth, the stock's valuation appears expensive, contributing to its recent price drop.
Broader market context indicates that ABB India Ltd has not only underperformed the market over the past year, with a return of -30.51% compared to the BSE500's -4.13%, but it has also been trading below its moving averages across various timeframes. This trend suggests a lack of investor confidence, despite rising participation in trading volumes. The stock's high price-to-book value and the elevated PEG ratio further indicate that investors may be cautious about its valuation relative to its earnings growth, which has not translated into positive stock performance.