Why is Dr Reddy's Labs falling/rising?

As of 01-Aug, Dr Reddy's Laboratories Ltd is experiencing a decline in its stock price, currently at 1,219.60, reflecting a decrease of 51.25 points or 4.03%. The stock has underperformed its sector today by 0.87% and has been on a downward trend for the last three days, accumulating a total decline of 6.33%. The stock touched an intraday low of Rs 1214 and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 4.50%, and year-to-date, it has fallen by 12.15%, contrasting with the Sensex, which has gained 3.15%. Despite the company's strong long-term fundamentals, including low debt and healthy growth rates, recent performance has been hindered by flat results and lower returns on capital employed.
In the broader market context, the pharmaceuticals and drugs sector has also seen a decline, with a drop of 3.27%. While Dr Reddy's Laboratories has high institutional holdings at 63.1%, indicating confidence from larger investors, the stock's recent performance has not aligned with this sentiment. The stock's negative returns over the past year, combined with a low return on capital employed and a decrease in price performance relative to the benchmark, suggest that investor sentiment is currently cautious. This context of underperformance relative to both the sector and the benchmark may be contributing to the stock's downward movement.