Why is Novartis India falling/rising?

As of 08-Sep, Novartis India Ltd's stock price is currently at 923.85, reflecting a decrease of 8.55 points or 0.92%. The stock has underperformed its sector today by 0.79%, and while it is trading above its 200-day moving average, it is below the 5-day, 20-day, 50-day, and 100-day moving averages. Over the past week, the stock has declined by 1.19%, and it has shown a modest gain of 0.23% over the past month. Despite the company reporting positive results for the last three consecutive quarters and a healthy long-term growth rate in operating profit, the stock has generated a negative return of 15.27% over the past year, indicating a concerning trend. The stock's high valuation, as indicated by a Price to Book Value of 2.9, and low domestic mutual fund participation may also contribute to investor hesitation.
In the broader market context, the Sensex has gained 0.53% over the past week, contrasting with Novartis India's decline, which highlights the stock's underperformance relative to the benchmark. The company's returns have lagged behind the broader market over various time frames, including a 3-year return of 27.90% compared to the Sensex's 35.35%. This underperformance, coupled with the stock's expensive valuation and low domestic mutual fund interest, suggests that investors may be cautious about the stock's future potential, contributing to its current price decline.