Why is Cigniti Tech. falling/rising?

As of 11-Aug, Cigniti Technologies Ltd is experiencing a price increase, currently at Rs 1,515.80, reflecting a rise of Rs 14.35 or 0.96%. Today, the stock opened with a notable gain of 5.19% and reached an intraday high of Rs 1,579.45. Despite this positive movement, the stock has underperformed in the short term, with a 1-week decline of 8.01% and a 1-month drop of 13.72%. However, the company has shown strong fundamentals, including a high return on equity (ROE) of 24.40%, a low debt-to-equity ratio, and positive financial results over the last three quarters, which have contributed to its recent price performance.
In the broader market context, while Cigniti Technologies has outperformed its sector by 0.66% today, it has still faced challenges compared to the benchmark Sensex, which has only declined by 0.51% over the past week. The stock's year-to-date performance shows a decline of 12.92%, contrasting with the Sensex's gain of 3.15%. Despite these short-term setbacks, the company has demonstrated consistent returns over the past three years and has outperformed the BSE500 in each of the last three annual periods, indicating a strong long-term growth potential that may support its current price rise.