Why is HDFC AMC falling/rising?

As of 08-Oct, HDFC Asset Management Company Ltd's stock price is currently at 5,463.85, reflecting a decline of 91.05 points or 1.64%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total drop of 3.75% during this period. Additionally, the stock's performance over the past week and month shows declines of 1.65% and 4.68%, respectively, while it has outperformed the benchmark Sensex over the year with a return of 30.24%. However, the stock is currently trading lower than its 5-day, 20-day, and 50-day moving averages, despite being above the 100-day and 200-day moving averages. The recent decrease in investor participation, with delivery volume falling by 17.61% against the 5-day average, suggests a lack of confidence among traders. In the broader market context, the Sensex has gained 0.98% over the past week and 1.22% over the past month, indicating that the market is generally performing well compared to HDFC AMC. While the company has demonstrated strong long-term fundamentals, including a high return on equity and consistent positive results over the last ten quarters, its current valuation appears expensive with a price-to-book ratio of 14.4. This valuation concern, coupled with the stock's recent underperformance relative to the benchmark, may be contributing to the downward pressure on its price.