Why is Birlasoft Ltd falling/rising?

As of 23-Oct, Birlasoft Ltd's stock price is currently at 378.20, reflecting an increase of 27.15, or 7.73%. The stock has shown a strong performance today, outperforming its sector by 5.57% and achieving a consecutive gain over the last two days with a total return of 11.61%. The stock reached an intraday high of Rs 388.2, indicating significant upward momentum. Despite a year-to-date decline of 32.51% and a one-year drop of 37.06%, the company has demonstrated high management efficiency with a return on equity (ROE) of 16.31% and a low debt-to-equity ratio, which may attract investor interest. However, the company has faced challenges, including negative results over the last four quarters and a decline in profits, which could temper enthusiasm.
In the broader market context, Birlasoft's short-term return of 9.85% over the past week significantly outpaces the Sensex's gain of 1.30%, highlighting its relative strength in the current market environment. The IT sector, in which Birlasoft operates, has also seen a positive movement, gaining 2.18%. However, the stock's long-term performance remains concerning, with a substantial decline over the past year and underperformance compared to the BSE500. The high institutional holdings at 33.18% suggest that informed investors are monitoring the stock closely, which may provide some support despite the overall negative sentiment stemming from its recent financial results.