Why is KPIT Technologi. falling/rising?

As of 11-Sep, KPIT Technologies Ltd is experiencing a decline in its stock price, currently at 1,261.50, down by 27.2 points or 2.11%. Today's price summary indicates that the stock has underperformed its sector by 1.77% and has fallen after two consecutive days of gains. The stock touched an intraday low of Rs 1257.4, reflecting a decrease of 2.43%. Despite a positive performance over the past week and month, with returns of 2.98% and 5.20% respectively, the stock has a year-to-date decline of 14.02% and a one-year decline of 29.47%. The company maintains strong long-term fundamentals, with a healthy return on equity of 22.47% and significant growth in net sales and operating profit, but the recent price movement suggests a market correction or profit-taking by investors.
In the broader market context, the stock's short-term performance has outpaced the benchmark Sensex over the past week and month, which saw returns of 1.03% and 1.17% respectively. However, the year-to-date and one-year performance of KPIT Technologies significantly lags behind the Sensex, which has gained 4.36% and 0.03% respectively. The high institutional holdings at 37.86% suggest that informed investors are closely monitoring the stock, potentially contributing to its volatility. The stock's current trading at a discount compared to peers may indicate a fair valuation, but the recent price decline reflects investor sentiment and market dynamics that could be influencing trading behavior.