Why is KPIT Technologi. falling/rising?

As of 03-Jul, KPIT Technologies Ltd is experiencing a price increase, currently at 1,262.50, reflecting a rise of 21.6 or 1.74%. Today's price summary indicates that the stock has outperformed its sector by 1.94% and has gained after eight consecutive days of decline, reaching an intraday high of Rs 1266. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a recent drop in delivery volume by 10.17% against the 5-day average, the company maintains strong long-term fundamentals, evidenced by a robust average Return on Equity (ROE) of 22.47% and consistent positive results over the last 17 quarters, which may contribute to the stock's upward movement.
In the broader market context, KPIT Technologies has underperformed the benchmark Sensex over the past week, with a decline of 1.03% compared to the Sensex's drop of 0.62%. However, the stock's long-term performance remains strong, with a remarkable 152.78% increase over the past three years, contrasting with the Sensex's 57.33% gain. The company’s healthy growth in net sales and operating profit, alongside high institutional holdings that have increased by 0.7%, suggests a solid foundation that could support the stock's recovery despite its recent volatility.