Why is Hexaware Tech. falling/rising?

As of 11-Jul, Hexaware Technologies Ltd's stock price is currently at Rs 868.00, reflecting a decrease of Rs 2.8 or 0.32%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days, resulting in a total decline of 2.49% during this period. Despite this recent drop, the stock has outperformed its sector by 1.82% today and is only 3.7% away from its 52-week high of Rs 900.15. Over the past week, the stock has shown a modest gain of 0.39%, while it has increased by 2.84% over the past month. The company has demonstrated strong financial performance, with significant growth in profit before tax and net sales, although it faces challenges due to its high valuation indicated by a Price to Book Value of 9.9.
Broader Market Context: In comparison to the benchmark Sensex, which has declined by 1.12% over the past week, Hexaware's short-term performance is relatively stronger. However, the IT - Software sector as a whole has seen a decrease of 2.17%, indicating a challenging environment for stocks in this sector. The rising investor participation, evidenced by a significant increase in delivery volume, suggests that there is still interest in the stock despite its recent price decline. Overall, while Hexaware Technologies has shown strong fundamentals, the recent price movement reflects broader market pressures and sector-specific challenges.