Why is HDFC AMC falling/rising?

As of 04-Sep, HDFC Asset Management Company Ltd is experiencing a decline in its stock price, currently at 5,565.00, reflecting a decrease of 33.25 points or 0.59%. The stock has underperformed its sector today by 1%, and while it remains above the 50-day, 100-day, and 200-day moving averages, it is below the 5-day and 20-day moving averages. The stock has shown a negative return of 0.25% over the past week and a 2.10% decline over the past month, contrasting with a strong year-to-date return of 32.41%. Despite the company’s strong fundamentals, including a high return on equity and consistent positive results over the last ten quarters, the recent drop in delivery volume by 6.09% against the 5-day average indicates falling investor participation, which may be contributing to the stock's current downward trend.
In the broader market context, the Sensex has gained 0.80% over the past week, suggesting that HDFC AMC's short-term performance is lagging behind the benchmark. While the stock has outperformed the BSE500 over the last three years and has shown consistent returns, its current valuation is considered expensive, with a price-to-book ratio of 14.6. This high valuation, combined with a PEG ratio of 1.8, may be causing some investors to reassess their positions, especially in light of the stock's recent underperformance compared to the market. Overall, while the long-term outlook remains positive due to strong fundamentals, the short-term dynamics and investor sentiment appear to be weighing on the stock's price.