Why is Poly Medicure falling/rising?

As of 14-Jul, Poly Medicure Ltd's stock price is currently at 2,209.75, reflecting a decrease of 4.25 points or 0.19%. The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 0.82% during this period. Although the stock is trading higher than its 20-day moving average, it remains below the 5-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable decline in investor participation, with delivery volume dropping by 15.09% compared to the 5-day average. Despite these challenges, the company has demonstrated strong performance over the past 11 quarters, achieving record net sales and profits, and maintaining high institutional holdings at 23.42%, which suggests confidence from more sophisticated investors.
In the broader market context, Poly Medicure's short-term performance has been relatively stable compared to the benchmark, as it has only decreased by 0.01% over the past week, while the Sensex has fallen by 1.42%. However, the stock's year-to-date performance shows a significant decline of 15.01%, contrasting with the Sensex's increase of 5.27%. This underperformance may be attributed to its high valuation metrics, including a Price to Book Value of 8.1, which is considered expensive compared to its peers. Despite generating positive returns over the last year and outperforming the BSE500 in the past three years, the stock's elevated PEG ratio of 2.7 indicates that its growth may not justify its current price, contributing to the recent downward pressure on its stock price.