Why is Poly Medicure falling/rising?

As of 03-Jul, Poly Medicure Ltd's stock is currently priced at 2,233.90, reflecting a decline of 34.8 points or 1.53%. The stock has been underperforming recently, having fallen consecutively for the last two days, resulting in a total decrease of 1.97% during this period. Despite this, the stock has shown a positive return of 1.96% over the past week, while it has slightly underperformed against its sector by 0.29%. The company has demonstrated strong fundamentals, with positive results for the last 11 consecutive quarters, including record net sales and significant growth in profit before tax. However, the stock is considered expensive with a high price-to-book value, which may be contributing to the recent price decline.
In the broader market context, Poly Medicure's short-term performance contrasts with the benchmark Sensex, which has seen a decline of 0.62% over the past week. While the stock has outperformed the Sensex over the past year with a return of 14.01% compared to the benchmark's 4.07%, it has underperformed over the last month, showing a slight decrease of 0.36% against the Sensex's gain of 3.10%. The stock's high institutional holdings suggest confidence among larger investors, yet the expensive valuation relative to peers may be causing caution among retail investors, contributing to the recent downward pressure on the stock price.