Why is Life Insurance falling/rising?

As of 11-Aug, Life Insurance Corporation of India is experiencing a decline in its stock price, currently at Rs 906.25, reflecting a decrease of Rs 6.3 or 0.69%. Today's price summary indicates that the stock has underperformed its sector by 1.38%, with an intraday low of Rs 892.2, marking a drop of 2.23%. Over the past week, the stock has shown a modest gain of 1.23%, but it has declined by 1.73% over the past month and significantly by 20.06% over the past year. Despite this decline, the company has reported a 16.4% increase in profits, and its low debt-to-equity ratio and attractive valuation with a PEG ratio of 0.7 suggest some underlying strength. However, the stock's performance is hindered by its recent underperformance relative to the sector.
In the broader market context, the stock's short-term performance has outpaced the benchmark Sensex over the past week, which has seen a decline of 0.51%. However, over the past month, both the stock and the benchmark have faced losses, with the Sensex down 2.30%. The company, being the largest in its sector with a market cap of Rs 5,76,650 crore, constitutes a significant portion of the industry, yet its substantial year-over-year decline raises concerns among investors. The rising investor participation, as indicated by a 192.99% increase in delivery volume, may provide some support, but overall market conditions and the stock's recent performance suggest caution.