Why is Coforge falling/rising?

As of 30-Jun, Coforge Ltd's stock price is rising, currently at 1,921.00, reflecting an increase of 13.05 (0.68%). The stock has shown strong performance recently, gaining 4.92% over the past week and 12.32% over the last month, significantly outperforming the Sensex, which has increased by 2.09% and 2.65% respectively in the same periods. Additionally, Coforge is trading above all its moving averages, indicating a positive trend. The stock has also seen a notable rise in investor participation, with delivery volume increasing by 241.71% compared to the 5-day average. The company has demonstrated strong long-term fundamentals, with a healthy average Return on Equity (ROE) of 20.35% and consistent growth in net sales, which has contributed to its recent upward movement.
In the broader market context, Coforge's short-term performance has outpaced the benchmark, with a 4.92% increase over the past week compared to the Sensex's 2.09%. This strong performance is supported by high institutional holdings at 90.15%, suggesting confidence from knowledgeable investors. However, it is important to note that while the stock has performed well, it is considered expensive with a Price to Book Value of 10.1, and its profits have only risen by 1.2% over the past year despite a substantial return of 76.29%. This valuation concern may pose risks for future performance, but the current momentum appears to be driven by positive market sentiment and strong fundamentals.