Why is Poly Medicure falling/rising?

As of 13-Aug, Poly Medicure Ltd's stock price is currently at Rs. 1,846.75, reflecting a decrease of Rs. 73.1, or 3.81%. The stock has recently hit a new 52-week low of Rs. 1,822.65 and has been on a downward trend, losing 6.73% over the last two days. It is trading below all its moving averages, indicating a bearish sentiment. Additionally, the stock has underperformed its sector by 1.45% today, with a significant drop in delivery volume, which has decreased by 63.04% compared to the 5-day average. Despite having a low debt-to-equity ratio and high institutional holdings, the company's flat results and high valuation metrics, such as a Price to Book Value of 7, suggest that the stock may be perceived as overvalued, contributing to its recent decline.
In the broader market context, Poly Medicure's performance over the past week shows a decline of 5.65%, while the benchmark Sensex has remained relatively flat with a change of -0.01%. Over the past month, the stock has fallen by 16.59%, significantly underperforming the Sensex, which has only decreased by 2.38%. This stark contrast highlights the stock's struggles in a market that is not experiencing severe downturns. The medical equipment sector, in which Poly Medicure operates, has also seen a decline of 2.68%, further indicating a challenging environment for the company.