Why is HDFC AMC falling/rising?

As of 28-Aug, HDFC Asset Management Company Ltd's stock is currently priced at Rs 5,579.00, reflecting a decline of Rs 165.2 or 2.88%. The stock has been underperforming recently, having fallen for the last two consecutive days, resulting in a total decline of 5.2%. It has also underperformed its sector by 1.81% today. Despite a strong long-term performance with a year-to-date return of 32.74% and a 24.48% increase over the past year, the stock's recent movement is influenced by its current trading below the 5-day and 20-day moving averages, although it remains above the 50-day, 100-day, and 200-day moving averages. The company has demonstrated strong fundamentals, with a consistent return on equity and positive results over the last ten quarters, but it is facing a very expensive valuation compared to its peers.
In the broader market context, HDFC AMC's short-term performance has been weaker than the benchmark, with a 1-week return of -3.64% compared to the Sensex's decline of -2.34%. This indicates that while the stock has shown strong long-term growth, its recent price drop may be attributed to market conditions and investor sentiment, particularly as it has experienced a significant drop in the short term. The rising investor participation, indicated by an increase in delivery volume, suggests some level of interest, but the overall market context and the stock's recent performance indicate a cautious outlook.