Why is HDFC AMC falling/rising?

As of 05-Sep, HDFC Asset Management Company Ltd is experiencing a slight increase in its stock price, currently at 5,575.05, reflecting a change of 10.05 or 0.18% upward. Despite this positive movement today, the stock has underperformed its sector by 0.31%. In terms of returns, the stock has shown a 1.83% increase over the past week, while it has decreased by 1.77% over the past month. The company has demonstrated strong long-term fundamentals, with an average Return on Equity (ROE) of 28.86% and consistent positive results over the last ten quarters, including record net sales and operating profit. However, there are concerns regarding falling investor participation, as evidenced by a 21.15% drop in delivery volume compared to the five-day average.
In the broader market context, HDFC AMC's recent performance has outpaced the benchmark Sensex, which has only increased by 1.13% over the past week. The stock's year-to-date return of 32.65% significantly exceeds the Sensex's 3.29% increase, indicating strong relative performance. However, the stock's high valuation, with a Price to Book Value of 14.7, raises concerns about its sustainability, especially given that its profits have only risen by 25.7% over the past year despite a 23.52% return. This combination of strong fundamentals and high valuation may create mixed sentiments among investors, influencing the stock's recent price movements.