Why is HDFC AMC falling/rising?

As of 01-Aug, HDFC Asset Management Company Ltd is experiencing a decline in its stock price, currently at 5,603.00, which reflects a decrease of 31.5 points or 0.56%. The stock has been losing value for the last two days, with a total return drop of 1.19% during this period. Despite this recent downturn, HDFC AMC has shown strong performance over the past month, with an increase of 8.81%, and it has outperformed the BSE500 index consistently over the last three years, generating a 34.11% return in the past year. However, the stock's delivery volume has decreased by 5.91% compared to the five-day average, indicating a potential decline in investor participation. In the broader market context, HDFC AMC's recent performance contrasts with the Sensex, which has fallen by 1.06% over the past week. While the stock has demonstrated strong long-term fundamentals, including a high return on equity of 28.86% and consistent positive results over the last ten quarters, it is currently viewed as expensive with a price-to-book value of 14.7. This valuation concern, coupled with a high PEG ratio of 1.8, may be contributing to the recent price decline despite the company's solid growth metrics and institutional support.