Why is DLF falling/rising?

As of 03-Jul, DLF Ltd. is experiencing a slight decline in its stock price, currently at 829.55, reflecting a decrease of 0.45 (-0.05%). The stock has been under pressure, having fallen for the last two days with a total return of -1.54% during this period. Despite this recent downturn, DLF has shown a positive performance over the past month with a return of +3.10%. The stock is currently trading above its 50-day, 100-day, and 200-day moving averages, but below its 5-day and 20-day moving averages. The company has reported strong financials, including a significant growth in net sales and a high return on capital employed, which could support its valuation despite the current price movement. However, the stock's relatively high price-to-book value and expensive valuation compared to peers may be contributing to investor caution.
In the broader market context, DLF's recent performance has outpaced the benchmark Sensex, which has seen a decline of -0.62% over the past week. While DLF's year-to-date return stands at +0.59%, the benchmark has performed better with a +6.53% return. The stock's liquidity remains adequate, with rising investor participation indicated by an increase in delivery volume. However, the overall market sentiment may be influenced by the stock's expensive valuation and the fact that it has underperformed over the past year, generating a return of -1.33% despite rising profits. This combination of factors may be leading to a cautious outlook among investors, contributing to the stock's recent price decline.