Why is HDFC AMC falling/rising?

As of 12-Aug, HDFC Asset Management Company Ltd's stock price is currently at 5,474.00, reflecting a decrease of 24.25 points or 0.44%. The stock has been experiencing a downward trend, having fallen for the last four consecutive days, resulting in a total decline of 3.61% during this period. Despite this recent downturn, the stock has shown strong performance over the longer term, with a 30.28% increase over the past year and a remarkable 179.84% rise over the last three years. The stock is currently 4.59% away from its 52-week high and has outperformed its sector by 0.47% today. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 125.92% compared to the five-day average, indicating ongoing interest despite the recent price drop.
In the broader market context, HDFC AMC's short-term performance has been more favorable compared to the benchmark Sensex, which has declined by 0.59% over the past week while HDFC AMC has fallen by 3.55%. This suggests that while the stock is experiencing a decline, it is still outperforming the broader market in the short term. The company's strong long-term fundamentals, including a high return on equity of 28.86% and consistent positive results over the last ten quarters, support its valuation despite its recent price drop. However, the stock's high valuation metrics, such as a price-to-book value of 14.4, may raise concerns among investors, contributing to the recent volatility in its stock price.