Why is KPIT Technologi. falling/rising?

As of 05-Sep, KPIT Technologies Ltd is experiencing a price increase, currently at 1,232.05, reflecting a change of 7.05 (0.58%) upward. The stock has shown positive momentum, outperforming its sector by 1.79% today and achieving a consecutive gain over the last three days with a total return of 2.01%. It reached an intraday high of Rs 1249.5, indicating strong short-term performance. However, despite this recent uptick, the stock's year-to-date performance remains negative at -16.03%, and it has underperformed significantly over the past year with a decline of -28.45%. The company benefits from strong long-term fundamentals, including a robust average return on equity (ROE) of 22.47% and healthy growth in net sales and operating profit, but it has also faced challenges, such as a flat PAT result in the last quarter and a significant drop in delivery volume.
In the broader market context, KPIT Technologies has outperformed the Sensex in the short term, with a 1-week return of +3.47% compared to the benchmark's +1.13%. However, the stock's long-term performance has been disappointing, particularly over the past year, where it has significantly lagged behind the market's decline of -1.81%. The high institutional holdings at 37.86% suggest confidence from larger investors, which may provide some support for the stock. Nonetheless, the recent drop in investor participation and the stock trading below longer-term moving averages indicate potential caution among investors, reflecting mixed sentiment in the market.