Why is Hexaware Tech. falling/rising?

As of 25-Jul, Hexaware Technologies Ltd's stock price is currently at 738.25, reflecting a decline of 87.75 points or 10.62%. The stock has underperformed its sector by 9.15% today and has experienced a consecutive fall over the last two days, resulting in a total drop of 14.48%. The stock touched an intraday low of Rs 731.85 and has shown high volatility with an intraday fluctuation of 6.6%. Additionally, the stock's performance over the past week and month indicates a decline of 14.34% and 12.57%, respectively, while it has not generated any returns over the past year. Despite positive financial results in June, including record operating cash flow and net sales, the stock's expensive valuation and falling investor participation, with a significant drop in delivery volume, have contributed to its recent price decline.
In the broader market context, Hexaware Technologies Ltd's performance has been notably weaker compared to the Sensex, which has only declined by 0.36% over the past week and 1.56% over the past month. This stark contrast highlights the stock's underperformance relative to the benchmark. While the company has a low debt-to-equity ratio and majority ownership by promoters, the high price-to-book value and the lack of significant returns over the past year suggest that investor sentiment may be cautious, further exacerbating the stock's downward trend.