Why is Kirl. Brothers falling/rising?

As of 02-Jul, Kirloskar Brothers Ltd is experiencing a decline in its stock price, currently at Rs 2,212.00, which represents a decrease of Rs 95.0 or 4.12%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total drop of 5.91% during this period. Despite a strong performance over the past month with a return of 23.84%, the stock is currently trading lower than its intraday low of Rs 2,182.75. Additionally, the stock has seen a significant decrease in investor participation, with delivery volume dropping by 73% against the five-day average. While the company boasts a high return on equity and has shown healthy long-term growth, its expensive valuation and premium trading compared to peers may be contributing to the current price decline.
In the broader market context, Kirloskar Brothers Ltd has outperformed the benchmark Sensex over the past week, with a return of 2.47% compared to the Sensex's 0.79%. However, the stock's year-to-date performance of 6.86% is slightly ahead of the Sensex's 6.75%. The recent price drop, despite positive quarterly results and a strong market position, indicates that investor sentiment may be affected by concerns over its valuation metrics, particularly the high price-to-book ratio and the relatively low return over the past year. This combination of factors suggests that while the company has solid fundamentals, market perceptions regarding its valuation may be leading to the current downward pressure on its stock price.