Why is Novartis India falling/rising?

As of 21-Aug, Novartis India Ltd is experiencing a decline in its stock price, currently at 920.25, which reflects a decrease of 19.45 or 2.07%. The stock has underperformed its sector today by 2.53% and has been on a consecutive downward trend for the last two days, accumulating a total loss of 3.25%. Additionally, the stock has underperformed significantly over various periods, with a 1-month return of -13.68% and a 1-year return of -17.61%. Despite the company showing healthy long-term growth with a 61.43% annual increase in operating profit and positive results for the last three quarters, the stock's high valuation relative to its peers, indicated by a Price to Book Value of 2.9, raises concerns among investors. Furthermore, the low domestic mutual fund ownership of only 0.01% suggests a lack of confidence in the stock's current price.
In the broader market context, Novartis India’s recent performance contrasts sharply with the Sensex, which has gained 1.74% over the past week and 4.94% year-to-date. This disparity highlights the stock's struggles in the face of a generally positive market environment. The stock's liquidity remains adequate, but its consistent underperformance over the short and long term, coupled with a negative sentiment reflected in the moving averages, indicates that investor confidence is waning. Overall, the combination of high valuation concerns, low mutual fund interest, and poor relative performance against the benchmark contributes to the stock's downward trajectory.