Why is Sai Life falling/rising?

As of 03-Jul, Sai Life Sciences Ltd is currently priced at 788.90, experiencing a slight decline of 0.1, or 0.01%. The stock has shown a positive performance over the past week and month, with returns of 5.36% and 8.75%, respectively. However, today it underperformed its sector by 0.49% and has seen a trend reversal after four consecutive days of gains. Despite this, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend. The company also demonstrates strong fundamentals, with a low Debt to EBITDA ratio of 1.25 times, healthy long-term growth reflected in an annual operating profit growth rate of 87.31%, and high institutional holdings which have increased by 1.95% over the previous quarter.
In the broader market context, while Sai Life has outperformed the Sensex over the past week and month, it has not matched the benchmark's year-to-date performance, where the Sensex has returned 6.53% compared to Sai Life's 5.01%. The stock's recent decline may be attributed to its high valuation, indicated by a Price to Book Value of 7.6 and a return on equity of 8, which some investors may find expensive despite the company's rising profits. This valuation concern, combined with the stock's recent trend reversal and underperformance today, may contribute to a cautious sentiment among investors, impacting its price movement.