Why is Aditya AMC falling/rising?

As of 01-Aug, Aditya Birla Sun Life AMC Ltd is experiencing a decline in its stock price, currently at 835.15, reflecting a decrease of 15.85 points or 1.86%. The stock has underperformed its sector by 0.75% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 5.38%. In the past week, the stock has decreased by 1.88%, although it has shown a positive return of 5.16% over the last month and an impressive 20.09% over the past year. Despite strong fundamentals, including a high return on equity of 25.98% and robust quarterly results, the stock is perceived as expensive with a high price-to-book value of 6.5, which may be contributing to the recent price decline.
In the broader market context, the stock's short-term performance has lagged behind the benchmark, with the Sensex down only 1.06% over the past week. This underperformance may be exacerbated by falling investor participation, as evidenced by a significant drop in delivery volume. While the stock has demonstrated strong long-term growth, outperforming the BSE500 over various periods, the current market sentiment appears cautious, particularly given the stock's high valuation relative to its peers. The combination of these factors suggests that while the company has solid fundamentals, the market is reacting negatively to its current pricing and recent performance trends.