Why is DLF falling/rising?

As of 24-Jul, DLF Ltd. is experiencing a decline in its stock price, currently at 828.95, reflecting a decrease of 11.7 points or 1.39%. The stock has been on a downward trend, losing value for the last three consecutive days with a total decline of 2.78% during this period. Although the stock is trading above its 50-day, 100-day, and 200-day moving averages, it is below its 5-day and 20-day moving averages. Despite this recent decline, DLF has shown consistent performance over the longer term, with a 1.09% return over the past year and a significant 130.20% increase over the last three years. The company has reported strong financials, including a 104.59% growth in net sales and a 67.58% increase in profit after tax over the latest six months, which indicates solid fundamentals. However, the stock is considered very expensive with a high price-to-book value, which may be contributing to the recent price drop.
In the broader market context, DLF's short-term performance has lagged behind the benchmark, with a 1-week return of -1.90% compared to the Sensex's slight decline of only 0.09%. This underperformance in the short term may be influencing investor sentiment negatively. Despite high institutional holdings and a strong market position, the stock's recent price movement reflects a cautious outlook among investors, possibly due to its high valuation metrics and the recent consecutive losses. The liquidity of the stock remains adequate, with a notable increase in delivery volume, suggesting that while some investors may be selling, others are still willing to participate in trading DLF shares.