Why is ICICI Pru Life falling/rising?

As of 17-Sep, ICICI Prudential Life Insurance Company Ltd is experiencing a decline in its stock price, currently at 600.30, which reflects a decrease of 2.3 points or 0.38%. The stock has underperformed its sector by 0.32% today and has been on a downward trend for the last two days, resulting in a total loss of 0.74% during this period. Additionally, the stock has shown a negative performance over various time frames, with a 1-month decline of 4.15% and a year-to-date drop of 8.11%. Despite reporting positive results in June, including significant growth in profit before tax and net sales, the company faces challenges such as poor long-term growth and high valuation metrics, which may contribute to investor hesitation.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has underperformed the Sensex, which has gained 1.56% over the past week. The stock's consistent underperformance against the benchmark over the last three years, coupled with a significant decline of 20.16% in the past year, highlights ongoing investor concerns. Furthermore, the falling investor participation, indicated by a 37.17% decrease in delivery volume, suggests a lack of confidence among traders, which may further exacerbate the stock's downward trajectory.