Why is Novartis India falling/rising?

As of 17-Sep, Novartis India Ltd is experiencing a decline in its stock price, currently at 896.80, which reflects a decrease of 5.05 points or 0.56%. The stock has been underperforming, having lost 3.57% over the last six days and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 2.61%, and in the last month, it has fallen by 5.39%. Despite the company showing healthy long-term growth with a 61.43% annual increase in operating profit and positive results for the last three consecutive quarters, the stock's performance has been hindered by its expensive valuation, indicated by a Price to Book Value of 2.8, and a low stake from domestic mutual funds, which may suggest a lack of confidence in its current price.
In the broader market context, Novartis India's short-term performance has significantly lagged behind the benchmark Sensex, which has gained 1.56% over the past week. The stock's year-to-date return of -2.50% also contrasts sharply with the Sensex's 5.83% increase. This underperformance is compounded by the stock's negative returns over the past year, where it has declined by 16.46%, while the benchmark has remained relatively flat with a -0.46% return. The combination of these factors indicates that while the company has shown some positive operational metrics, the market sentiment remains cautious, leading to a downward trend in the stock price.