Why is Novartis India falling/rising?

As of 19-Aug, Novartis India Ltd's stock price is currently at 951.20, reflecting an increase of 18.3, or 1.96%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and has outperformed its sector by 2.09%. In terms of performance, the stock has experienced a 1.28% increase over the past week, although it has fallen by 10.80% over the past month. Positive factors contributing to the stock's recent movement include a low debt-to-equity ratio, healthy long-term growth with an annual operating profit increase of 61.43%, and positive results in the last three consecutive quarters, including a 40.82% growth in PAT over the latest six months. However, the stock is considered expensive with a high price-to-book value and has underperformed the market over the past year, generating a return of -13.35%.
In the broader market context, Novartis India has underperformed compared to the benchmark Sensex, which has increased by 1.76% over the past week. While the stock's year-to-date return stands at 3.41%, the Sensex has outperformed it with a return of 4.49%. The stock's recent performance reflects a mix of positive growth indicators and concerns regarding its valuation and market perception, particularly given the low stake held by domestic mutual funds, which may suggest hesitance regarding the stock's current price.