Why is ICICI Pru Life falling/rising?

As of 29-Aug, ICICI Prudential Life Insurance Company Ltd is experiencing a decline in its stock price, currently at 599.35, reflecting a decrease of 10.5 points or 1.72%. The stock has underperformed its sector by 1.06% today and has been on a consecutive downward trend for the past three days, accumulating a total drop of 4.52%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite positive quarterly results showing significant growth in profit before tax and net sales, the stock's long-term growth prospects appear poor, with an annual operating profit growth rate of only 6.95%. The high price-to-book value ratio suggests that the stock is trading at a premium compared to its peers, contributing to its recent price decline.
In the broader market context, ICICI Prudential Life has underperformed against the benchmark, with a 1-week return of -4.28% compared to the Sensex's -1.84%. Over the past year, the stock has generated a return of -19.11%, significantly lagging behind the BSE500, which has shown resilience with a 2.14% year-to-date increase. The stock's consistent underperformance over the last three years, coupled with falling investor participation and liquidity issues, further exacerbates its challenges in the current market environment.