Why is Astrazeneca Phar falling/rising?

As of 18-Jul, Astrazeneca Pharma India Ltd's stock price is currently at Rs 9,110.80, reflecting a decline of Rs 263.2 or 2.81%. Today's price summary indicates that the stock has underperformed its sector by 2.26% and has experienced a trend reversal after three consecutive days of gains. The stock reached an intraday low of Rs 9,049.5, marking a decrease of 3.46%. Over the past week, the stock has decreased by 1.36%, and over the last month, it has fallen by 6.41%. Despite positive long-term performance, including a year-to-date return of 24.21% and a one-year return of 41.67%, the recent decline can be attributed to falling investor participation, as evidenced by a 4.8% drop in delivery volume compared to the five-day average.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has seen a slight increase of 0.38% over the past month. The decline in Astrazeneca's stock price may be exacerbated by concerns over its high valuation, as indicated by a price-to-book ratio of 32, which is considered expensive compared to peers. Additionally, the decrease in institutional investor participation, with a 0.61% reduction in their stake, suggests a lack of confidence among more sophisticated investors. While the company has demonstrated strong management efficiency and consistent returns over the last three years, the combination of high valuations and declining investor interest has contributed to the stock's recent downward movement.