Why is Dr Lal Pathlabs falling/rising?

As of 16-Sep, Dr Lal Pathlabs Ltd is experiencing a decline in its stock price, currently at 3,272.40, which reflects a decrease of 23.6 points or 0.72%. The stock has underperformed its sector by 0.55% today and has been on a downward trend for the last two days, accumulating a total loss of 1.55% during this period. Despite a strong long-term fundamental strength indicated by a high Return on Equity (ROE) of 20.50% and a low Debt to Equity ratio, the stock's recent performance has been mixed, with a 1-week return of +3.23% but a 1-month decline of -2.30%. The stock's liquidity remains adequate, but there has been a notable decrease in investor participation, with delivery volume falling by 9.96% against the 5-day average.
Broader market context shows that while Dr Lal Pathlabs has outperformed the Sensex over the past week, it has lagged behind in the 1-month timeframe, where the Sensex gained 2.21% compared to the stock's decline. The overall market sentiment may be affecting the stock's performance, as indicated by its negative returns over the past year of -2.26%, despite profits rising by 34.5%. The stock's valuation is considered very expensive with a Price to Book Value of 12.6, which could be contributing to the recent price decline as investors reassess its worth in relation to its peers.