Why is Hexaware Tech. falling/rising?

As of 11-Aug, Hexaware Technologies Ltd is experiencing a decline in its stock price, currently at 698.25, which reflects a decrease of 21.95 points or 3.05%. The stock has underperformed its sector today by 3.35% and has been on a downward trend for the last two days, accumulating a total decline of 3.83%. In the past week, the stock has fallen by 1.42%, and over the past month, it has seen a significant drop of 19.56%. Despite having a low debt-to-equity ratio and reporting strong financial results in June, including the highest operating cash flow and net sales, the stock's recent performance has been negatively impacted by its expensive valuation, indicated by a price-to-book value of 7.9.
In the broader market context, the Sensex has shown a slight decline of 0.51% over the past week, suggesting that the overall market sentiment is relatively stable compared to Hexaware's more pronounced drop. While the stock's liquidity appears adequate, with a delivery volume increase of 26.75% against the 5-day average, the significant underperformance relative to both the sector and the benchmark indicates that investor sentiment may be cautious. The stock's lack of returns over the past year, despite profit growth, further emphasizes the challenges it faces in gaining investor confidence amidst its current valuation concerns.