Why is KPIT Technologi. falling/rising?

As of 22-Sep, KPIT Technologies Ltd is experiencing a decline in its stock price, currently at 1,262.45, which represents a decrease of 22.4 points or 1.74%. The stock has been on a downward trend, having fallen consecutively for the last two days, resulting in a total loss of 3.25% during this period. Today, it opened with a loss of 2.7% and reached an intraday low of Rs 1250.15. Despite outperforming its sector by 0.87% today, the stock's year-to-date performance shows a significant decline of 13.96%, while it has underperformed the benchmark Sensex over the past year with a return of -24.01%. However, the company maintains strong long-term fundamentals, with a healthy average return on equity (ROE) of 22.47% and a low debt-to-equity ratio.
Broader market conditions indicate that the IT - Software sector has also faced a downturn, with a decline of 2.6%. In the short term, KPIT Technologies has outperformed the Sensex over the past week, gaining 0.58% compared to the benchmark's 0.46%. However, the stock's recent performance is hindered by falling investor participation, as evidenced by a 33.31% drop in delivery volume against the five-day average. Despite these challenges, the company benefits from high institutional holdings at 37.86%, suggesting that informed investors still see value in the stock, which is trading at a discount compared to its peers.