Why is Novartis India falling/rising?

As of 04-Sep, Novartis India Ltd is experiencing a slight decline in its stock price, currently at 931.90, reflecting a change of -1.15 or -0.12%. The stock has shown mixed performance in recent periods, with a 1-week increase of 1.85%, but a 1-month decline of 3.90%. Today, the stock's performance is in line with its sector, and while it is above the 5-day and 200-day moving averages, it is below the 20-day, 50-day, and 100-day moving averages. The company has demonstrated healthy long-term growth, with operating profit increasing at an annual rate of 61.43%, and it has reported positive results for the last three consecutive quarters. However, the stock is considered expensive with a high Price to Book Value ratio of 2.9, and its recent performance has been below par, generating a return of -16.79% over the past year.
In the broader market context, Novartis India has outperformed the Sensex over the past week, but it has underperformed in the longer term, with a 1-year return significantly lower than the benchmark. The stock's underperformance, coupled with low domestic mutual fund holdings at only 0.01%, may indicate a lack of confidence among institutional investors regarding its current valuation. Despite the company's positive growth metrics, the high PEG ratio of 1.7 and the overall decline in stock performance over the past year suggest that investors may be cautious, contributing to the stock's recent price movement.