Why is United Spirits falling/rising?

As of 18-Sep, United Spirits Ltd is experiencing a decline in its stock price, currently at Rs 1,328.40, which reflects a decrease of Rs 9.6 or 0.72%. The stock has underperformed its sector by 0.75% today and is currently 4.36% away from its 52-week low. Despite a recent trend of three consecutive days of gains, the stock has fallen today, and its performance over the past year shows a significant decline of 13.33%, contrasting with the broader market's slight increase of 0.08%. The stock's moving averages indicate that it is performing better than the 5-day and 20-day averages but worse than the longer-term averages, suggesting a mixed short-term outlook. While the company boasts a high return on equity and low debt-to-equity ratio, it also faces challenges such as a high price-to-book value and a recent flat performance in its quarterly results.
In the broader market context, United Spirits has underperformed compared to the benchmark Sensex, which has seen a return of 1.80% over the past week and 2.14% over the past month, while United Spirits has only gained 0.68% and 1.35% respectively in the same periods. This underperformance is compounded by the stock's negative trajectory over the year, where it has fallen significantly more than the market average. The high institutional holdings indicate confidence from larger investors, but the stock's expensive valuation relative to its peers and the recent flat results may be contributing to investor caution, leading to the current decline in price.