Why is Page Industries falling/rising?

As of 13-Aug, Page Industries Ltd is experiencing a decline in its stock price, currently at 43,649.70, which reflects a decrease of 477.6 or 1.08%. The stock has underperformed its sector by 0.94% today and has been on a downward trend for the last two days, accumulating a total loss of 2.81%. Over the past week, the stock has dropped by 5.65%, while its one-month performance shows a decline of 8.43%. Despite a strong long-term fundamental strength indicated by a high return on equity (ROE) of 43.38% and significant growth in operating profit, the stock is facing pressure due to a very expensive valuation with a price-to-book ratio of 35, which is higher than its peers. Additionally, the stock is trading below its moving averages across various timeframes, indicating a bearish trend.
In the broader market context, Page Industries' short-term performance contrasts sharply with the Sensex, which has remained relatively flat with a change of -0.01% over the past week. While the company has shown positive long-term growth with a 6.29% return over the past year, the recent declines highlight a disconnect between its strong fundamentals and current market sentiment. The stock's high institutional holdings at 52.52% suggest that knowledgeable investors are closely monitoring its performance, but the recent price movements indicate that concerns over valuation and market conditions may be weighing heavily on investor confidence.