Why is Poly Medicure falling/rising?

As of 13-Nov, Poly Medicure Ltd's stock price is currently at Rs 1,971.20, reflecting a decrease of Rs 55.5 or 2.74%. The stock has been experiencing a downward trend, having lost 4.63% over the last two days. It touched an intraday low of Rs 1,952, indicating significant selling pressure. Despite a positive performance over the past week and month, with returns of 3.90% and 5.78% respectively, the stock has underperformed over the year with a decline of 25.36%. The company's low debt-to-equity ratio and high institutional holdings suggest some stability; however, flat results in recent earnings and a high price-to-book value indicate that the stock may be overvalued, contributing to its recent price decline.
In the broader market context, while the Sensex has shown a positive return of 1.40% over the past week and 2.61% over the past month, Poly Medicure's performance has lagged significantly, particularly with a year-to-date return of -24.18% compared to the benchmark's 8.11%. The medical equipment sector, in which Poly Medicure operates, has also seen a decline of 3.08%, reflecting a challenging environment for the industry. The falling investor participation, with a notable drop in delivery volume, further underscores the stock's current weakness in the market.