Why is Sai Life falling/rising?

As of N/A, Sai Life Sciences Ltd is currently priced at 781.50, reflecting a decrease of 4.85, or 0.62%. Today's Price Summary data is not available, but over the past week, the stock has declined by 1.31%, while it has shown a modest increase of 1.51% over the past month. The company has demonstrated strong financial health, evidenced by a low Debt to EBITDA ratio of 1.25 times and impressive growth in operating profit at an annual rate of 87.31%. However, despite these positive indicators, the stock is considered expensive, with a Price to Book Value of 7.5 and a return on equity (ROE) of 8, which may contribute to the recent price decline.
In the broader market context, the stock's performance has been slightly worse than the benchmark Sensex over the past week, which fell by 1.12%. Year-to-date, while Sai Life has gained 4.03%, it has underperformed compared to the Sensex's 5.58% increase. The high institutional holdings at 25.62% indicate confidence from larger investors, as their stake has increased by 1.95% over the previous quarter. Nonetheless, the overall market sentiment and the company's high valuation may be influencing the stock's current downward movement.