Why is Coromandel Inter falling/rising?

As of 22-Aug, Coromandel International Ltd's stock price is currently at 2,418.70, reflecting a decrease of 13.5 points or 0.56%. The stock has underperformed its sector today by 0.64% and has experienced a trend reversal, falling after two consecutive days of gains. Despite this recent decline, the stock has shown strong performance over the past week and month, with returns of 2.69% and 3.02%, respectively. The company's positive fundamentals, including a robust long-term Return on Equity (ROE) of 21.78% and significant growth in net sales and profits, support its valuation. However, the stock is considered expensive with a Price to Book Value of 6.4, which may be contributing to the current price decline.
In the broader market context, while Coromandel International has outperformed the benchmark Sensex over various periods, including a 35.43% return over the past year compared to the Sensex's 0.31%, the stock's recent performance has been impacted by falling investor participation, as indicated by a 37.73% drop in delivery volume against the five-day average. The stock's liquidity remains adequate for trading, but the combination of high valuation and reduced trading activity may be causing investors to reassess their positions, leading to the current price drop.