Why is Novartis India falling/rising?

As of 22-Sep, Novartis India Ltd's stock price is currently at 896.40, reflecting a decrease of 9.95 points or 1.1%. The stock has experienced a trend reversal, falling after two consecutive days of gains. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past week, the stock has declined by 1.17%, and it has underperformed significantly over the last year with a return of -15.03%. Despite positive financial results, including a 40.82% growth in profit after tax over the last six months, the stock's high valuation relative to its peers, as indicated by a Price to Book Value of 2.8, raises concerns among investors. Additionally, 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's recent performance contrasts with the Sensex, which has gained 0.46% over the past week. The stock's year-to-date decline of 2.54% is also notable compared to the Sensex's increase of 5.15%. This underperformance in both the short and long term, coupled with the stock's negative returns over the past year and three years, highlights a challenging environment for Novartis India. The combination of high valuations, low investor confidence, and recent price movements indicates that the stock is facing significant headwinds in the current market landscape.