Why is KPIT Technologi. falling/rising?

As of 24-Jun, KPIT Technologies Ltd is experiencing a decline in its stock price, currently at 1,305.65, which reflects a decrease of 85.15 or 6.12%. The stock has underperformed its sector today, falling consecutively for the last two days with a total return decline of 6.41%. It reached an intraday low of Rs 1301, indicating significant selling pressure. Additionally, the stock's performance over the past week shows a decline of 6.68%, while its year-to-date performance is down by 11.01%. Despite strong long-term fundamentals, including a healthy average return on equity of 22.47% and consistent positive results over the last 17 quarters, the recent drop in delivery volume by 70.3% against the 5-day average suggests waning investor interest, which may be contributing to the stock's current downward trend.
In the broader market context, the Sensex has shown a slight increase of 0.58% over the past week, contrasting with KPIT's significant decline. This underperformance relative to the benchmark indicates that while the overall market is experiencing gains, KPIT Technologies is struggling. The stock's performance over the last month and year further highlights this trend, with declines of 1.78% and 18.90%, respectively, compared to the Sensex's modest gains. The high institutional holdings at 38.47% may provide some stability, but the recent drop in trading volume and price suggests that investor sentiment is currently negative, overshadowing the company's strong fundamentals.