Why is Poly Medicure falling/rising?

As of 10-Jul, Poly Medicure Ltd is experiencing a decline in its stock price, currently at Rs 2,220.80, reflecting a decrease of Rs 7.3 or 0.33%. The stock has traded within a narrow range of Rs 20.45 today and is performing in line with its sector. It is currently above the 20-day moving averages but below the 5-day, 50-day, 100-day, and 200-day moving averages. The stock's performance over the past week shows a slight decline of 0.59%, and it has decreased by 2.17% over the past month. Despite positive financial results over the last 11 quarters, including record net sales and profits, the stock's high valuation, indicated by a Price to Book Value of 8.1, may be contributing to its current price drop. Additionally, a significant decrease in delivery volume by 67.78% against the 5-day average suggests falling investor participation, which could further pressure the stock price.
In the broader market context, Poly Medicure's recent performance contrasts with the Sensex, which has seen a minimal decline of 0.06% over the past week. While the stock has outperformed the benchmark over the last year with a return of 4.02%, its year-to-date performance is notably poor, showing a decline of 14.58% compared to the Sensex's gain of 6.46%. This disparity highlights the challenges Poly Medicure faces in maintaining investor confidence amid its high valuation and declining trading activity, despite its strong fundamentals and institutional backing.