Why is Novartis India falling/rising?

As of 15-Sep, Novartis India Ltd's stock price is currently at 907.00, reflecting a decrease of 11.1, or 1.21%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 2.47% during this period. In terms of returns, Novartis India has shown a negative performance of 1.82% over the past week, 4.31% over the past month, and a significant drop of 15.49% over the past year, all while the benchmark Sensex has posted positive returns in these time frames. Despite the company reporting healthy growth in operating profit and positive results for the last three quarters, the stock is perceived as expensive with a high Price to Book Value ratio, which may deter investors.
In the broader market context, Novartis India's recent performance contrasts sharply with the Sensex, which has gained 1.24% over the past week and 1.47% over the past month. This underperformance relative to the benchmark indicates a lack of investor confidence, particularly as domestic mutual funds hold only a minimal stake in the company, suggesting they may not be comfortable with the current valuation. The stock's liquidity remains adequate, but the overall sentiment appears to be negative, compounded by its below-par performance in both the short and long term compared to broader market indices.