Why is Indian Hotels Co falling/rising?

As of 19-Sep, Indian Hotels Co Ltd is experiencing a decline in its stock price, currently at Rs 774.60, which reflects a decrease of Rs 7.9 or 1.01%. The stock has fallen after two consecutive days of gains, touching an intraday low of Rs 764.1. In terms of performance, the stock has shown a slight decline of 0.43% over the past week and 0.12% over the past month, while it has significantly underperformed the benchmark Sensex, which has gained 0.88% and 1.20% respectively in the same periods. Despite a strong ability to service debt and healthy long-term growth, the stock's valuation appears expensive with a high Price to Book Value ratio, which may be contributing to the recent price drop.
Broader Market Context: The broader market context indicates that while Indian Hotels Co has generated a positive return of 12.20% over the past year, it has underperformed the Sensex, which has seen a modest decline of 0.67% in the same timeframe. The stock's recent performance is also contrasted by its high institutional holdings, which suggest confidence from larger investors, yet the stock's current decline may reflect concerns over its valuation metrics and the recent trend reversal. Overall, the combination of strong fundamentals and high institutional interest does not seem to be enough to counteract the negative sentiment reflected in the stock's recent price movements.