Why is United Spirits falling/rising?

As of 02-Sep, United Spirits Ltd's stock price is currently at Rs 1,333.60, reflecting an increase of Rs 6.6, or 0.5%. The stock has shown a positive trend recently, gaining 3.91% over the last three days, although it has underperformed its sector by 0.55% today. Despite being 4.73% away from its 52-week low, the stock's delivery volume has decreased by 31.61% compared to the five-day average, indicating a decline in investor participation. The company benefits from high management efficiency, a low debt-to-equity ratio, and strong institutional holdings, which contribute positively to its fundamentals. However, the stock is considered expensive with a high price-to-book value and has generated a negative return of -10.22% over the past year despite a profit increase of 10.9%, suggesting that valuation concerns may be impacting investor sentiment.
In the broader market context, United Spirits has outperformed the Sensex over the past week and month, with returns of +2.36% and +0.85%, respectively, while the benchmark has declined by -0.78% and -0.55%. However, year-to-date, the stock has significantly lagged behind the Sensex, which has gained 2.58%. This discrepancy highlights the challenges the company faces in regaining investor confidence despite its strong fundamentals and market position. The overall market sentiment appears cautious, particularly given the stock's flat results in June and its high valuation compared to peers, which may be contributing to the mixed performance relative to the broader market.