Why is Hexaware Tech. falling/rising?

As of 10-Jul, Hexaware Technologies Ltd's stock is currently priced at Rs 870.80, reflecting a decrease of Rs 19.4 or 2.18%. The stock has recently underperformed its sector by 1.55% and has experienced a trend reversal after two consecutive days of gains. It is currently trading 3.37% away from its 52-week high of Rs 900.15. Despite this decline, the stock has shown positive performance over the past month with a return of 3.30%. Additionally, the company reported strong financial results in March, with significant growth in profit before tax and net sales, which could indicate underlying strength despite the current price drop.
In the broader market context, Hexaware's recent performance has been relatively better than the benchmark Sensex, which has seen a slight decline of 0.06% over the past week. The stock's liquidity appears adequate, with a notable increase in delivery volume, suggesting rising investor participation. However, the stock's high valuation, indicated by a Price to Book Value of 9.9 and a return on equity of 22, may be contributing to investor caution, especially as the stock has generated no return over the past year despite profit growth. This combination of strong fundamentals and high valuation may be causing some volatility in the stock price.