Why is Happiest Minds falling/rising?

As of 05-Jun, Happiest Minds Technologies Ltd is experiencing a slight increase in its stock price, currently at 595.00, reflecting a change of 1.3 (0.22%) upward. The stock has shown a trend reversal, gaining after two consecutive days of decline, although it has been trading in a narrow range of Rs 4.9. Despite this recent uptick, the stock has underperformed significantly over the past year, with a return of -24.51%, and has consistently lagged behind the benchmark indices over the last three years. The company has a high management efficiency with a return on equity (ROE) of 21.07% and a low debt-to-equity ratio of 0.03, which are positive indicators. However, negative financial results from March 2025, including a 20.7% drop in profit after tax compared to previous quarters, and a bearish technical trend, contribute to a cautious outlook.
In the broader market context, the stock's short-term performance has been relatively poor compared to the benchmark, as it has declined by 1.14% over the past week while the Sensex has only decreased by 0.23%. This underperformance is further highlighted by the stock's year-to-date decline of 18.98%, contrasting sharply with the Sensex's gain of 4.23%. Additionally, there has been a decrease in investor participation, with delivery volume falling by 7.18% against the five-day average, indicating a lack of confidence among retail investors. However, the increasing stake of institutional investors, who now hold 15.62% of the company, may provide some support, as they typically have better resources to analyze the company's fundamentals.