Why is Hexaware Tech. falling/rising?

As of 31-Jul, Hexaware Technologies Ltd's stock is currently priced at 703.85, reflecting a decrease of 8.1 points or 1.14%. The stock has been underperforming recently, with a consecutive decline over the last three days, resulting in a total drop of 4.89%. Today, it opened with a loss of 3.05% and reached an intraday low of Rs 690.2. Over the past week, the stock has fallen by 14.79%, significantly underperforming the Sensex, which declined only 1.22%. Despite a low debt-to-equity ratio and positive financial results in June, including record operating cash flow and net sales, the stock's valuation appears expensive with a price-to-book value of 8, contributing to its recent price decline.
In the broader market context, Hexaware's short-term performance has been notably weaker than the benchmark, as evidenced by its 1-week return of -14.79% compared to the Sensex's -1.22%. While the stock has shown rising investor participation with an increase in delivery volume, this has not translated into price stability or growth. The overall market sentiment seems to be affecting Hexaware negatively, as it continues to struggle against both sector performance and broader market trends.