Why is Bajaj Finance falling/rising?

As of 20-Aug, Bajaj Finance Ltd's stock price is currently at 887.70, reflecting a decrease of 14.8 points or 1.64%. The stock has underperformed its sector by 1.13% today and has experienced a consecutive decline over the last two days, resulting in a total drop of 1.92%. Despite a strong long-term performance with a year-to-date increase of 29.97% and a one-year return of 32.04%, the stock's recent movement is influenced by a decline in investor participation, with delivery volume falling by 47.7% compared to the five-day average. The stock is trading above its 5-day and 200-day moving averages but below its 20-day, 50-day, and 100-day moving averages, indicating mixed signals regarding its short-term performance.
In the broader market context, the stock's short-term performance has lagged behind the benchmark, with the Sensex gaining 1.64% over the past week while Bajaj Finance has increased by only 3.17%. This underperformance may be attributed to its high valuation metrics, as indicated by a Price to Book Value of 5.7, which is considered expensive compared to peers. While the company boasts strong fundamentals, including a consistent track record of positive quarterly results and high institutional holdings, the recent price decline suggests that investors may be cautious due to its premium valuation and declining trading activity.