Why is Niva Bupa Health falling/rising?

As of 17-Oct, Niva Bupa Health Insurance Company Ltd's stock price is currently at Rs 75.96, reflecting a decrease of Rs 2.26 or 2.89%. The stock has underperformed its sector by 2.85% today and has experienced a trend reversal, falling after three consecutive days of gains. It reached an intraday low of Rs 75.25, which is a decline of 3.8%. Over the past week, the stock has dropped by 4.28%, and year-to-date, it has decreased by 9.40%. Despite strong long-term fundamentals, including a 160.87% CAGR growth in operating profits and a healthy annual growth rate of 30.60% in net sales, the stock's recent performance has been negatively impacted by flat quarterly results, with significant declines in profit before tax and profit after tax compared to previous quarters.
Broader market context indicates that while Niva Bupa's stock has struggled, the benchmark Sensex has increased by 1.76% over the past week and 7.44% year-to-date. This stark contrast highlights the stock's underperformance relative to the broader market. Additionally, the decline in investor participation, with a 62.24% drop in delivery volume compared to the five-day average, suggests waning interest among investors. The stock's valuation appears expensive with a price-to-book ratio of 3.7, further complicating its appeal in the current market environment.