Why is HDFC AMC falling/rising?

As of 02-Sep, HDFC Asset Management Company Ltd is experiencing a decline in its stock price, currently at 5,545.25, reflecting a decrease of 22.25 points or 0.4%. The stock has underperformed its sector by 0.27% today, and its delivery volume has significantly decreased by 38.53% compared to the 5-day average. Despite being higher than the 50-day, 100-day, and 200-day moving averages, it is lower than the 5-day and 20-day moving averages. Over the past week, the stock has fallen by 3.46%, while it has shown a positive year-to-date return of 31.94% and a one-year return of 25.74%, indicating strong long-term performance despite recent short-term challenges.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has only declined by 0.78% over the past week. While HDFC AMC has demonstrated strong long-term fundamentals, including a high return on equity and consistent profit growth, its current valuation is considered expensive relative to its peers. The stock's PEG ratio of 1.8 suggests that while it has generated solid returns, the growth in profits has not outpaced the stock price increase proportionately. This combination of high institutional holdings and strong historical performance may support the stock in the long run, but the recent drop in investor participation and short-term underperformance against the benchmark may be contributing to the current price decline.