Why is Hexaware Tech. falling/rising?

As of 18-Aug, Hexaware Technologies Ltd is experiencing a price increase, currently at 726.25, reflecting a rise of 10.4 or 1.45%. The stock has outperformed its sector today by 1.9%, reaching an intraday high of Rs 739.45, which is a 3.3% increase. Over the past week, the stock has shown a positive return of 4.01%, while it has faced a decline of 15.73% over the past month. Despite a significant drop in delivery volume by 69.41% against the 5-day average, the company maintains a low debt-to-equity ratio and has reported strong financial results, including the highest operating cash flow and net sales in the last quarter, which positively influences investor sentiment.
In the broader market context, Hexaware's recent performance contrasts with the Sensex, which has only increased by 0.83% over the past week. While the stock's short-term return is favorable compared to the benchmark, it has underperformed over the longer term, with no returns over the past year. The company's relatively high price-to-book value indicates an expensive valuation, which may pose risks despite its strong profit growth. Overall, the combination of solid financial results and short-term performance against the benchmark contributes to the stock's rising price, even as it faces challenges in investor participation and valuation concerns.