Why is eClerx Services falling/rising?

As of 06-Aug, eClerx Services Ltd is experiencing a decline in its stock price, currently at Rs 3,946.20, which reflects a decrease of Rs 23.55 or 0.59%. The stock has been losing value for the past two days, with a total drop of 3.55% during this period. Despite this recent downturn, eClerx has shown strong performance over the longer term, with a 58.48% return over the past year and a remarkable 162.79% increase over the last three years. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend. However, there has been a notable decline in investor participation, with delivery volume falling by 16.56% against the 5-day average, which may contribute to the recent price drop. The company maintains a high return on equity (ROE) of 24.05%, a low debt-to-equity ratio, and significant institutional holdings, which have increased by 0.96% over the previous quarter, suggesting strong fundamentals despite the current price movement.
In the broader market context, eClerx Services has outperformed the benchmark Sensex over the past week, with a return of 4.92% compared to the Sensex's decline of 1.15%. This trend of outperformance is consistent over the past month, where eClerx gained 16.50% while the Sensex fell by 3.46%. Such performance indicates that while the stock is facing short-term challenges, its long-term trajectory remains strong relative to the market. The company's substantial market capitalization and its significant share of the sector further support its resilience, even as it navigates recent fluctuations in stock price.