Why is Dr Lal Pathlabs falling/rising?

As of 09-Sep, Dr Lal Pathlabs Ltd is experiencing a decline in its stock price, currently at 3,170.15, reflecting a decrease of 34.8 points or 1.09%. The stock has underperformed its sector by 1.08% today and has been on a consecutive four-day decline, resulting in a total drop of 4.95% during this period. Despite having a strong long-term fundamental strength with an average Return on Equity (ROE) of 20.50% and a low Debt to Equity ratio, the stock's recent performance has been hindered by falling investor participation, as evidenced by a significant drop in delivery volume by 69.41% against the five-day average. Additionally, while the company has shown positive financial results, including a 24.4% growth in PAT, its valuation remains high, which may deter some investors.
In the broader market context, the stock's short-term performance has been notably weak compared to the benchmark Sensex, which has gained 1.18% over the past week, while Dr Lal Pathlabs has declined by 1.61%. This underperformance is further highlighted by the stock's negative returns over the past month and year, contrasting with the Sensex's positive returns in those periods. The stock's liquidity remains adequate for trading, but the overall market sentiment appears to be affecting its price negatively, as institutional holdings, while high at 39.6%, may not be enough to counterbalance the recent downward trend.