Why is Godfrey Phillips falling/rising?

As of 01-Sep, Godfrey Phillips India Ltd. is experiencing a decline in its stock price, currently at 10,569.05, which reflects a decrease of 425.05 or 3.87%. Today's performance indicates that the stock has underperformed its sector by 2.63%, and it has fallen after two consecutive days of gains. The stock touched an intraday low of Rs 10,502, representing a drop of 4.48%. Despite a strong year-to-date return of 102.55% and a significant increase of 63.16% over the past year, the recent downturn may be influenced by its high valuation metrics, including a Price to Book Value of 10.5, which is considered expensive compared to peers. The company has shown strong fundamentals, with a high return on equity and consistent profit growth, but the recent price movement suggests that investors may be reacting to the stock's premium valuation.
In the broader market context, the stock's short-term performance over the past week has been a decline of 2.89%, while the benchmark Sensex has decreased by 1.56%. This indicates that Godfrey Phillips is underperforming relative to the market. Although the company has demonstrated healthy long-term growth and has been rated highly among its peers, the recent price drop may reflect market corrections or profit-taking after a substantial rise in its stock price. The rising investor participation, as indicated by increased delivery volume, suggests that there is still interest in the stock, but the current price decline may be a response to its high valuation and recent performance trends.