Why is Nippon Life Ind. falling/rising?

As of 29-Aug, Nippon Life India Asset Management Ltd is experiencing a decline in its stock price, currently at Rs 784.85, which reflects a decrease of Rs 15.4 or 1.92%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 9.19% over that period. Today's trading saw the stock reach an intraday low of Rs 780.8, and the volume traded has decreased significantly, with delivery volume dropping by 19.05% compared to the five-day average. Despite a strong long-term fundamental strength indicated by a high return on equity and healthy growth in operating profit, the stock's current valuation appears expensive, which may be contributing to the recent price decline.
In the broader market context, the stock's short-term performance has lagged behind the benchmark, with a 9.19% decline over the past week compared to the Sensex's drop of 1.84%. While the stock has shown strong long-term performance, generating a 15.82% return over the past year compared to the Sensex's decline, the recent underperformance in the short term suggests a lack of investor confidence, possibly exacerbated by falling participation and liquidity. The high institutional holdings indicate a level of confidence from more sophisticated investors, but the stock's expensive valuation and recent profit growth that lags behind its stock performance may be causing caution among retail investors.