Why is Piramal Enterp. falling/rising?

As of 01-Aug, Piramal Enterprises Ltd is experiencing a decline in its stock price, currently at 1,199.95, which reflects a decrease of 63.05 points or 4.99%. The stock has been underperforming recently, having fallen consecutively for the last four days, resulting in a total decline of 7.49% during this period. Today's trading saw the stock reach an intraday low of Rs 1190.8, and the weighted average price indicates that more volume was traded closer to this low price. Despite the recent downturn, the company has shown strong financial performance, with a remarkable growth in net profit of 1524.36% and positive results for the last two consecutive quarters. However, concerns about poor long-term growth, as indicated by a negative annual growth rate in net sales and operating profit, may be contributing to the stock's current decline.
In the broader market context, Piramal Enterprises Ltd has underperformed the Sensex, which has only declined by 1.06% over the past week compared to the stock's 5.95% drop. While the stock has generated a return of 17.27% over the past year, significantly outperforming the benchmark's negative return of 1.55%, the recent performance suggests a shift in investor sentiment. The stock's valuation appears expensive, with a price-to-book value of 1 and a low return on equity of 1.5, which may deter potential investors despite high institutional holdings and positive cash flow metrics. This combination of factors indicates that while the company has strong fundamentals, the market's reaction to its recent performance and valuation concerns is leading to the current decline in stock price.