Why is Godfrey Phillips falling/rising?

As of 22-Aug, Godfrey Phillips India Ltd. is experiencing a decline in its stock price, currently at 10,565.00, reflecting a decrease of 565.75 points or 5.08%. Today's price summary indicates that the stock has underperformed its sector by 2.95% and has fallen after three consecutive days of gains, reaching an intraday low of Rs 10,520.05. Despite this drop, the stock has shown strong performance over the past week, with a return of 3.99%, and an impressive year-to-date return of 102.47%. The company has demonstrated high management efficiency with a return on equity (ROE) of 18.33% and a low debt-to-equity ratio of 0.02, which supports its healthy long-term growth prospects. However, the stock is considered very expensive with a price-to-book value of 10.5, which may contribute to the recent price decline as investors reassess its valuation.
In the broader market context, while Godfrey Phillips has outperformed the Sensex with a year-to-date return of 102.47% compared to the benchmark's 4.05%, the stock's recent performance today contrasts with the overall sector, which has fallen by 2.1%. The rising investor participation, indicated by an increase in delivery volume, suggests continued interest in the stock despite the current price drop. The company's strong financial results over the past quarters, including a net profit growth of 64.1%, position it favorably in the long term, but the current valuation concerns may be weighing on investor sentiment, leading to the observed decline in stock price.