Why is Poly Medicure falling/rising?

As of 02-Jul, Poly Medicure Ltd's stock price is currently at 2,268.70, reflecting a decrease of 10.2 points or 0.45%. The stock has underperformed its sector today by 1.05% and has experienced a trend reversal, falling after two consecutive days of gains. The stock's performance over the past week shows a positive return of 3.64%, but it has underperformed the benchmark Sensex, which gained 0.79%. Despite a strong performance over the last year with a return of 15.53%, the stock has seen a year-to-date decline of 12.74%. The company has reported positive financial results for the last 11 consecutive quarters, including record net sales and profit growth, which supports its strong fundamentals. However, the stock's high valuation, indicated by a Price to Book Value of 8.3 and a PEG ratio of 2.8, raises concerns among investors.
In the broader market context, while Poly Medicure has shown strong returns over the long term, its recent performance contrasts with the benchmark, which has gained 6.75% year-to-date. The stock's liquidity appears adequate, but a significant drop in delivery volume by 46.55% against the five-day average suggests falling investor participation. Additionally, the company's high institutional holdings indicate confidence from larger investors, yet the expensive valuation compared to peers may deter retail investors, contributing to the stock's current decline.