Why is Alembic falling/rising?

As of 22-Jul, Alembic Ltd's stock price is currently at 118.20, reflecting a decrease of 0.1, or 0.08%. The stock has underperformed in the short term, with a 1-week return of -1.42%, while the Sensex has only declined by 0.47%. Despite outperforming its sector by 0.83% today, the stock's delivery volume has significantly dropped by 54.96% compared to the 5-day average, indicating a decrease in investor participation. Over the past year, Alembic has generated a return of -16.38%, which is notably worse than the market's performance. Although the company has shown healthy long-term growth with an annual operating profit increase of 142.59% and positive results for the last six quarters, its high valuation and low domestic mutual fund interest suggest caution among investors.
In the broader market context, Alembic's recent performance contrasts sharply with the benchmark, as it has underperformed the BSE500, which has yielded a return of 0.99% over the past year. The stock's price decline can be attributed to its very expensive valuation, with a Price to Book Value of 1.3, despite profits rising by 15.7%. The low debt-to-equity ratio and strong operating metrics may not be enough to offset the concerns regarding its valuation and lack of domestic mutual fund investment, which could indicate a lack of confidence in the stock's current price level.