Why is Godfrey Phillips falling/rising?

As of 11-Aug, Godfrey Phillips India Ltd. is experiencing a decline in its stock price, currently at Rs 9,837.75, which reflects a decrease of Rs 110.55 or 1.11%. The stock has been underperforming recently, having fallen for the last three consecutive days, resulting in a total decline of 9.4% during this period. Despite opening with a gain of 3.28% today and reaching an intraday high of Rs 10,274.6, the overall performance has been negatively impacted by a significant drop in investor participation, with delivery volume decreasing by 41.78% compared to the five-day average. Although the stock has shown strong returns over the past year, outperforming the benchmark with a 121.34% increase compared to the Sensex's 1.13%, the recent downturn is notable.
In the broader market context, Godfrey Phillips has outperformed the Sensex over various time frames, including a 15.70% increase over the past month while the benchmark fell by 2.30%. However, the stock's current decline may be attributed to its high valuation metrics, including a Price to Book Value of 9.8, which is considered expensive compared to its peers. Despite strong fundamentals, such as a high return on equity and consistent profit growth, the market's reaction to its valuation and recent performance may be causing investors to reassess their positions, leading to the current downward movement in stock price.