Why is Concord Biotech falling/rising?

As of 20-Jun, Concord Biotech Ltd is experiencing a decline in its stock price, currently at Rs 1,840.05, which reflects a decrease of Rs 125.15 or 6.37%. The stock has underperformed its sector by 6.98% today and has been on a consecutive downward trend for the past five days, accumulating a total decline of 13%. Despite opening with a 3% gain and reaching an intraday high of Rs 2,024.1, it also hit a low of Rs 1,801, indicating high volatility with an intraday fluctuation of 9.33%. Over the past year, the stock has generated a return of 17.06%, which is significantly higher than the market's average return of 2.60%. However, the recent performance has been overshadowed by a drop in investor participation, with delivery volume decreasing by 43.59% compared to the five-day average.
In the broader market context, the stock's short-term performance has been notably weaker than the benchmark, which has seen a 1.59% increase over the past week. While the company has demonstrated strong long-term fundamentals, including a healthy return on equity of 20.62% and significant growth in operating profit, its current valuation is considered expensive with a Price to Book Value of 12.1. Additionally, although institutional investors have increased their stake, indicating confidence in the company's long-term prospects, the recent decline in stock price suggests that short-term market dynamics and investor sentiment are currently unfavorable.