Why is Max Healthcare falling/rising?

As of 08-Aug, Max Healthcare Institute Ltd's stock price is currently at Rs 1,244.50, reflecting a decrease of Rs 22.8 or 1.8%. The stock has been underperforming recently, having fallen for three consecutive days, resulting in a total decline of 2.19% during this period. It has also underperformed its sector by 1.32% today. Despite this short-term decline, the stock has shown strong performance over the longer term, with a 42.31% increase over the past year and a remarkable 226.17% rise over the last three years. The company maintains a low debt-to-equity ratio of 0.08, healthy long-term growth in net sales and operating profit, and high institutional holdings at 72.18%, which suggests confidence from more sophisticated investors.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by 0.92% over the past week and 4.60% over the past month. While Max Healthcare's short-term returns are negative, its year-to-date performance of +10.38% significantly outpaces the Sensex's +2.20%. This indicates that despite the recent price drop, the stock has been resilient compared to the overall market trends, suggesting that the long-term fundamentals remain strong even as short-term fluctuations occur.