Why is Alembic falling/rising?

As of 09-Jul, Alembic Ltd's stock price is currently at 117.10, reflecting a decrease of 1.0, or 0.85%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 2.09% during this period. Additionally, the stock has underperformed its sector by 1.05% today. Over the past week, Alembic's returns have decreased by 3.30%, while it has shown a modest gain of 4.65% over the past month. Despite the company declaring positive results for the last six consecutive quarters and achieving significant growth in operating profit, the stock's valuation appears expensive with a Price to Book Value of 1.3, contributing to investor hesitance.
Broader Market Context: In comparison to the benchmark, Alembic Ltd has significantly underperformed over the past year, with a return of -12.74% against the Sensex's gain of 3.96%. This trend of underperformance is further highlighted by the fact that domestic mutual funds hold no stake in the company, which may indicate a lack of confidence in its current valuation or business prospects. While the broader market has shown resilience, Alembic's recent price movements and declining investor participation suggest a challenging environment for the stock, exacerbated by its relatively high valuation metrics despite positive operational growth.