Why is Novartis India falling/rising?

As of 16-Sep, Novartis India Ltd's stock price is currently at 901.85, reflecting a decrease of 5.15, or 0.57%. The stock has been underperforming, having fallen consecutively for the last five days, resulting in a total decline of 3.03% over that period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite the company reporting positive results over the last three quarters and a healthy growth in operating profit, the stock's valuation appears expensive with a Price to Book Value of 2.8, which may deter investors. Furthermore, the low participation from domestic mutual funds, holding only 0.01% of the company, suggests a lack of confidence in the stock's current price.
In the broader market context, Novartis India has significantly underperformed compared to the Sensex, which has gained 1.58% over the past week while Novartis has lost 3.03%. The stock's year-to-date performance shows a decline of 1.95%, contrasting with the Sensex's increase of 5.43%. This underperformance is compounded by the stock's negative returns over the past year, down 14.35%, while the broader market has remained relatively flat with a decrease of only 0.73%. The combination of these factors indicates a challenging environment for Novartis India, contributing to its declining stock price.