Why is Hexaware Tech. falling/rising?

As of 30-Jul, Hexaware Technologies Ltd is experiencing a decline in its stock price, currently at 711.95, which reflects a decrease of 2.05 or 0.29%. The stock has underperformed its sector by 0.4% today and has been on a downward trend for the last two days, accumulating a total loss of 3.79%. In the past week, the stock has seen a significant drop of 17.52%, while over the last month, it has decreased by 16.28%. Despite having a low debt-to-equity ratio and reporting strong operating cash flow and net sales in June, the stock's expensive valuation, indicated by a price-to-book value of 8.1, may be contributing to the recent price decline.
In the broader market context, Hexaware's performance contrasts sharply with the Sensex, which has only fallen by 1.50% over the past week and 2.54% over the past month. This indicates that the stock is underperforming relative to the market. While the stock has shown a positive long-term return of 88.72% over the past five years, the recent short-term performance suggests investor concerns, particularly given the stock's consecutive falls and the high valuation despite rising profits. The increase in delivery volume may indicate some investor interest, but it has not been sufficient to counteract the overall negative sentiment surrounding the stock.