Why is Godfrey Phillips falling/rising?

As of 01-Aug, Godfrey Phillips India Ltd. is experiencing a decline in its stock price, currently at Rs 8,773.70, which reflects a decrease of Rs 331.8 or 3.64%. The stock has underperformed its sector by 4.34% today and has been on a consecutive downward trend for the last two days, accumulating a total loss of 6.4%. The stock touched an intraday low of Rs 8,754.2, indicating significant selling pressure. Despite a strong long-term performance, with a year-to-date return of 68.14% and a remarkable 106.44% return over the past year, the recent price movement suggests a shift in investor sentiment, possibly influenced by falling delivery volumes and a higher valuation compared to peers.
In the broader market context, the stock's short-term performance contrasts with the benchmark Sensex, which has declined by 1.06% over the past week. While Godfrey Phillips has shown impressive long-term growth, evidenced by a high return on equity and consistent profitability, its current valuation appears expensive, which may be causing some investors to reassess their positions. The stock's high price-to-book value and the relatively modest growth in profits compared to its significant stock price increase could be contributing to the recent sell-off, as investors weigh the risks against the potential for future returns.