Why is Coforge falling/rising?

As of 24-Jul, Coforge Ltd's stock price is currently at 1,674.95, reflecting a decline of 172.65 points or 9.34%. The stock has been underperforming, having lost 10.28% over the last three days and showing a significant drop today, with an intraday low of Rs 1670.7. Despite a strong long-term fundamental strength indicated by a healthy average Return on Equity (ROE) of 20.35% and consistent positive results over the last four quarters, the stock's current valuation appears expensive with a Price to Book Value of 8.8. Additionally, while the stock has generated a 32.36% return over the past year, it has underperformed the benchmark Sensex in the short term, with a 10.10% decline over the past week compared to a mere 0.09% drop in the index.
In the broader market context, Coforge's recent performance contrasts sharply with the Sensex, which has shown a slight gain of 0.16% over the past month and a 5.18% increase year-to-date. This disparity highlights the stock's struggle in the short term despite its long-term growth potential and high institutional holdings at 89.75%. The stock's high volatility today, with an intraday fluctuation of 6.19%, further indicates investor uncertainty. While the company has demonstrated strong fundamentals and growth, the current market sentiment appears to be weighing heavily on its price, leading to its recent decline.