Why is Godfrey Phillips falling/rising?

As of 31-Jul, Godfrey Phillips India Ltd. is experiencing a decline in its stock price, currently at Rs 9,105.50, which reflects a decrease of Rs 268.0 or 2.86%. Today's performance indicates that the stock has underperformed its sector by 3.57% and has fallen after two consecutive days of gains, touching an intraday low of Rs 9,055.35. Despite this drop, the stock has shown strong performance over the past year, with a return of 115.30%, and has consistently outperformed the BSE500 index over the last three years. The company benefits from high management efficiency, a low debt-to-equity ratio, and healthy long-term growth, as evidenced by significant increases in operating profit and net sales. However, the stock's high valuation, reflected in its price-to-book ratio and premium compared to peers, raises concerns among investors.
In the broader market context, Godfrey Phillips has outperformed the Sensex in both the one-week and one-month periods, with returns of 3.45% and 2.73%, respectively, while the benchmark has seen declines of 1.22% and 3.00%. This indicates that while the stock has shown resilience in the longer term, the recent price drop may be influenced by market corrections or profit-taking after substantial gains. The rising investor participation, as indicated by increased delivery volume, suggests that there is still interest in the stock despite its current decline. Overall, the combination of high valuation concerns and recent price movements may be contributing to the stock's downward trend.