Why is Birlasoft Ltd falling/rising?

As of 02-Jul, Birlasoft Ltd's stock price is currently at 442.20, reflecting an increase of 3.85 or 0.88%. The stock has shown a positive trend recently, gaining for the last three days with a total return of 2.28% during this period. Despite this short-term gain, the stock has underperformed in the longer term, with a year-to-date decline of 21.09% and a significant drop of 37.65% over the past year. The company has high management efficiency with a return on equity (ROE) of 16.31% and a low debt-to-equity ratio, which are positive indicators. However, it has reported negative results for the last three consecutive quarters, with a 15% decline in profit after tax and the lowest net sales recorded at Rs 1,316.89 crore, contributing to investor concerns.
In the broader market context, Birlasoft's recent performance has outpaced its sector by 0.79% today, but it still lags behind the benchmark Sensex, which has gained 0.79% over the past week and 2.50% over the last month. The stock's year-to-date performance is notably poor compared to the market's 6.75% gain. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 50.93% against the five-day average, indicating a potential lack of confidence among investors. Despite high institutional holdings at 36.21%, which suggest some level of confidence from more knowledgeable investors, the overall negative financial results and underperformance relative to the market may be contributing to the stock's volatility and mixed sentiment.