Why is Sai Life falling/rising?

As of 05-Aug, Sai Life Sciences Ltd is currently priced at 793.70, reflecting a decline of 11.15 points or 1.39%. The stock has underperformed its sector today by 0.44%, with trading volume skewed towards lower prices. In terms of returns, the stock has decreased by 4.39% over the past week, while it has shown a slight increase of 0.23% over the past month. Despite a healthy long-term growth rate in operating profit and strong institutional holdings, the stock's valuation appears expensive with a Price to Book Value of 7.7, contributing to its recent price decline.
In the broader market context, the Sensex has decreased by only 0.77% over the past week, indicating that Sai Life's performance is lagging behind the benchmark. While the stock has shown a positive year-to-date return of 5.65% compared to the Sensex's 3.29%, the recent drop in investor participation, as evidenced by a significant decline in delivery volume, suggests waning interest among investors. This combination of underperformance relative to the benchmark and decreasing trading activity may be contributing to the stock's current downward trend.