Why is Hexaware Tech. falling/rising?

As of 11-Sep, Hexaware Technologies Ltd is experiencing a decline in its stock price, currently at Rs 758.55, which represents a decrease of Rs 23.0 or 2.94%. Today's price summary indicates that the stock has underperformed its sector by 2.6% and has fallen after three consecutive days of gains. It touched an intraday low of Rs 752, reflecting a drop of 3.78%. Despite this decline, the stock has shown positive returns over the past week and month, with increases of 3.85% and 8.03%, respectively. The company has a low debt-to-equity ratio and reported strong financial results in June, including the highest operating cash flow and net sales, which could support its long-term value. However, the stock's expensive valuation, indicated by a Price to Book Value of 8.6, may be a concern for investors.
In the broader market context, Hexaware's short-term performance has outpaced the benchmark Sensex over the past week and month, where the Sensex has only increased by 1.03% and 1.17%, respectively. This suggests that while the stock has been performing well relative to the market, the recent decline may be a correction after a period of gains. Additionally, rising investor participation, as evidenced by a significant increase in delivery volume, indicates ongoing interest in the stock despite its current price drop. The liquidity of the stock remains adequate for trading, which may help stabilize its price in the near term.