Why is Coforge falling/rising?

As of 18-Aug, Coforge Ltd's stock price is currently at 1,651.35, reflecting an increase of 9.35, or 0.57%. The stock has shown a positive performance today, outperforming its sector by 1.02% and has gained consecutively over the last two days, resulting in a total return of 1.8% during this period. Despite a decline of 11.05% over the past month, the stock has performed well over the last year, with a return of 36.15%, significantly outpacing the benchmark Sensex, which has only increased by 1.04%. The company has demonstrated strong long-term fundamentals, including a healthy average return on equity of 20.41% and consistent net sales growth, which has contributed to its recent price rise.
In the broader market context, while the stock has outperformed the benchmark in the short term, it has faced challenges in the longer term, with a year-to-date decline of 14.69% compared to the Sensex's gain of 4.01%. The stock's high institutional holdings at 89.75% suggest strong confidence from knowledgeable investors, which may support its price. However, the stock is considered expensive with a high price-to-book value and a PEG ratio of 2.5, indicating potential valuation concerns. This combination of strong fundamentals and high valuation may lead to mixed investor sentiment, influencing the stock's price movements in the current market environment.