Why is Hexaware Tech. falling/rising?

As of 14-Aug, Hexaware Technologies Ltd is experiencing a decline in its stock price, currently at 715.85, which reflects a decrease of 9.15 or 1.26%. The stock has underperformed its sector by 1.48% today and has fallen after two consecutive days of gains. In terms of returns, the stock has decreased by 1.40% over the past week and 15.58% over the past month, while the benchmark Sensex has remained relatively stable with a slight decline of 0.03% and 2.01%, respectively. Despite having a low debt-to-equity ratio and reporting strong operating cash flow and net sales in June, the stock's valuation appears expensive with a price-to-book value of 8.1, which may be contributing to investor caution.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has significantly underperformed over the short term. While the Sensex has shown a modest gain of 3.15% year-to-date, Hexaware's stock has stagnated, generating a return of 0.00% over the past year. The rising investor participation, indicated by an increase in delivery volume, suggests some interest in the stock; however, the overall market sentiment appears to be cautious, likely influenced by the stock's high valuation relative to its earnings growth.