Why is Aditya AMC falling/rising?

As of 28-Jul, Aditya Birla Sun Life AMC Ltd's stock price is rising, currently at Rs 864.00, reflecting an increase of Rs 12.85 or 1.51%. The stock has shown a trend reversal, gaining after three consecutive days of decline, and it outperformed its sector by 2.88% today. The stock reached an intraday high of Rs 882, which is a 3.62% increase. Over the past month, the stock has performed well, with a return of 12.96%, while it has generated a notable 22.87% return over the past year. Despite a high dividend yield of 4.4%, the stock is considered expensive with a Price to Book Value of 6.7, indicating a premium valuation compared to peers.
In the broader market context, the stock's short-term performance has outpaced the benchmark, as it has declined 2.63% over the past week compared to a 1.59% drop in the Sensex. This indicates that while the stock has faced some recent challenges, its overall performance remains strong relative to the market. The company's strong fundamentals, highlighted by a high Return on Equity (ROE) of 25.98% and impressive quarterly results, contribute positively to investor sentiment, despite concerns regarding its valuation and falling investor participation.