Why is Mankind Pharma falling/rising?

As of 07-Aug, Mankind Pharma Ltd's stock price is currently at 2,534.05, reflecting a decrease of 19.2 points or 0.75%. The stock has been underperforming recently, having fallen consecutively for the last three days, resulting in a total decline of 3.59% during this period. Despite a positive performance over the past month with a return of 4.63%, the year-to-date performance shows a significant decline of 11.91%. The company has demonstrated strong fundamentals with a high return on equity of 17.21% and a low debt to EBITDA ratio of 0.69, indicating good management efficiency and debt servicing capability. However, the recent flat results in June, particularly a decline in profit after tax by 11.7% compared to previous quarters, have raised concerns about the stock's valuation, which is considered expensive relative to its peers.
In the broader market context, Mankind Pharma's short-term performance has slightly underperformed the benchmark Sensex, which has decreased by 0.69% over the same one-week period. While the stock has shown resilience over the past year with a return of 23.23%, the overall market has generated negative returns of -1.34%, suggesting that the stock's strong historical performance may not be enough to counteract recent negative trends. The rising investor participation, indicated by an increase in delivery volume, suggests some interest in the stock, but the recent declines in profitability and the stock's premium valuation compared to peers may be contributing to its current downward movement.