Why is Sai Life falling/rising?

As of 08-Jul, Sai Life Sciences Ltd is experiencing a decline in its stock price, currently at 786.00, which reflects a decrease of 7.0 points or 0.88%. Despite this drop, the stock has shown positive performance over the past week, with a return of 0.82%, and a notable increase of 6.92% over the past month. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend prior to this decline. Additionally, there has been a significant rise in investor participation, with delivery volume increasing by 108.01% compared to the 5-day average. The company's strong fundamentals, including a low Debt to EBITDA ratio of 1.25 times and impressive growth in operating profit, net sales, and profit after tax, suggest a healthy long-term outlook. However, the stock's high valuation, indicated by a Price to Book Value of 7.6 and a return on equity of 8, raises concerns among investors.
In the broader market context, the Sensex has shown a minimal increase of 0.02% over the past week, while Sai Life's performance has outpaced this benchmark. Despite the recent decline, the stock's year-to-date return of 4.63% is lower than the Sensex's 7.13%, indicating that while the stock has been performing well in the short term, it has not kept pace with the broader market over a longer horizon. The high institutional holdings at 25.62% may provide some stability, as these investors typically have the resources to analyze the company's fundamentals effectively. However, the stock's recent price movement suggests that concerns over its valuation may be influencing investor sentiment, leading to the current decline.