Why is ICICI Pru Life falling/rising?

As of 19-Sep, ICICI Prudential Life Insurance Company Ltd is experiencing a decline in its stock price, currently at 602.95, down by 2.2 points or 0.36%. The stock's performance today is in line with the sector, but it is higher than the 5-day moving averages while falling short of the 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 61.4% compared to the 5-day average. Over the past week, the stock has gained 0.32%, but it has underperformed over the longer term, with a 4.87% decline in the past month and a substantial 20.04% drop over the past year. Positive factors include strong quarterly results with a 522.33% growth in profit before tax and a 34.2% increase in profit after tax. However, the stock is facing challenges due to poor long-term growth, a high price-to-book value, and consistent underperformance against benchmarks.
In the broader market context, the stock's short-term return of 0.32% over the past week is notably lower than the Sensex, which has risen by 0.88% in the same period. This underperformance is reflective of the company's struggles, as it has generated negative returns over the past year while the benchmark has remained relatively stable with a decline of only 0.67%. The stock's high institutional holdings suggest that knowledgeable investors are aware of the company's fundamentals, yet the overall sentiment remains cautious due to its expensive valuation and lack of long-term growth prospects.