Why is Happiest Minds falling/rising?

As of 08-Oct, Happiest Minds Technologies Ltd is experiencing a decline in its stock price, currently at Rs. 490.80, which represents a decrease of Rs. 7.65 or 1.53%. The stock has hit a new 52-week low of Rs. 486.55 today and has underperformed its sector by 2.93%. Over the past week, the stock has fallen by 6.68%, and it has seen a significant decline of 33.17% year-to-date. Despite a strong long-term fundamental strength indicated by a healthy average Return on Equity (ROE) of 21.07% and robust net sales growth, the stock's recent performance has been negatively impacted by its consistent underperformance relative to the benchmark indices, with a 1-year return of -38.47% compared to the Sensex's 0.17%.
In the broader market context, the stock's short-term performance has been notably poor, with a 1-week decline of 6.68% while the Sensex has gained 0.98%. This stark contrast highlights the stock's struggles in the current market environment. Although there has been a rise in investor participation, as evidenced by a significant increase in delivery volume, the overall liquidity remains adequate for trading. The stock is currently trading below all key moving averages, indicating a bearish trend, which further contributes to the downward pressure on its price.