Why is Coforge falling/rising?

As of 26-Jun, Coforge Ltd's stock price is currently at 1,880.00, reflecting a slight increase of 0.25 (0.01%). The stock has been gaining for the last three days, with a total return of 2.68% during this period. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Despite a recent decline in delivery volume by 16.09% compared to the 5-day average, the stock maintains strong long-term fundamentals, including a healthy average return on equity (ROE) of 20.35% and significant growth in net sales at an annual rate of 23.73%. Additionally, high institutional holdings at 90.15% suggest confidence from knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, Coforge has outperformed the Sensex, with a 4.80% increase over the past week compared to the benchmark's 2.94%. Over the last month, the stock has risen by 11.18%, while the Sensex has only increased by 1.92%. This strong performance in both the near and long term, including a remarkable 76.70% return over the past year, positions Coforge favorably against market trends. However, it is important to note that the stock's valuation appears expensive, with a price-to-book value of 9.9, which may raise concerns among some investors despite its strong performance metrics.