Why is HDFC AMC falling/rising?

As of 20-Aug, HDFC Asset Management Company Ltd is experiencing a decline in its stock price, currently at Rs 5,711.00, which represents a decrease of Rs 11.15 or 0.19%. The stock has been under pressure recently, having fallen for the last two consecutive days, resulting in a total decline of 0.37% during this period. Despite this recent downturn, the stock has shown strong performance over the longer term, with a year-to-date return of 35.88% and a notable increase of 32.75% over the past year. Additionally, it is trading close to its 52-week high, just 0.51% away, and has outperformed its sector by 0.32% today. However, there has been a significant drop in investor participation, with delivery volume decreasing by 37.9% compared to the 5-day average.
In the broader market context, HDFC AMC's short-term performance contrasts positively with the benchmark Sensex, which has only increased by 1.64% over the past week. The stock's strong long-term fundamentals, highlighted by a consistent return on equity of 28.86% and healthy growth in operating profit, support its valuation despite being considered expensive with a price-to-book ratio of 15. The company has also reported positive results for the last ten consecutive quarters, which bolsters investor confidence. However, the high institutional holdings at 38.63% suggest that while institutional investors are optimistic, the recent decline in retail investor participation may be contributing to the stock's current downward pressure.