Why is Max Healthcare falling/rising?

As of 07-Aug, Max Healthcare Institute Ltd is experiencing a decline in its stock price, currently at Rs 1,267.30, which reflects a decrease of Rs 4.75 or 0.37%. The stock has underperformed its sector by 1.19% today and has been on a consecutive decline for the last two days, resulting in a total drop of 0.39% during this period. Despite this recent downturn, the stock has shown strong performance over the longer term, with a 47.53% increase over the past year and a remarkable 237.68% rise over the last three years. Additionally, it is trading above its moving averages, indicating a generally positive trend, although it is currently 3.71% away from its 52-week high.
In the broader market context, while Max Healthcare's recent performance has been negative, it has outperformed the benchmark Sensex over various time frames, including a 0.68% gain over the past week compared to a 0.69% decline in the Sensex. The company benefits from a low debt-to-equity ratio and strong institutional holdings, which suggest confidence in its fundamentals. Furthermore, its healthy growth in net sales and operating profit supports its long-term viability. However, the recent price drop may reflect short-term market fluctuations or profit-taking by investors after a period of significant gains.