Why is Aditya AMC falling/rising?

As of 31-Jul, Aditya Birla Sun Life AMC Ltd is experiencing a decline in its stock price, currently at Rs 851.00, reflecting a decrease of Rs 28.3 or 3.22%. The stock has underperformed its sector by 2.68% today and has fallen after three consecutive days of gains. It touched an intraday low of Rs 851, and the delivery volume has decreased significantly, down by 38.5% compared to the five-day average. Despite a strong long-term fundamental strength, indicated by an average Return on Equity (ROE) of 25.98% and positive quarterly results, the stock is trading at a premium valuation with a Price to Book Value of 6.6, which may contribute to investor caution.
In the broader market context, the stock's performance over the past week shows a decline of 2.89%, while the benchmark Sensex has decreased by only 1.22%, indicating a weaker performance relative to the market. However, over the past month, Aditya AMC has outperformed the Sensex with a return of 7.16% compared to the benchmark's decline of 3.00%. This suggests that while the stock has shown resilience in the longer term, recent price movements may reflect investor concerns about its high valuation and declining participation, which could be influencing the current downward trend.