Why is KPIT Technologi. falling/rising?

As of 12-Nov, KPIT Technologies Ltd's stock price is currently at 1,243.65, reflecting an increase of 32.5, or 2.68%. The stock has shown strong performance recently, gaining 7.86% over the last three days and outperforming its sector by 0.51%. It has also touched an intraday high of Rs 1246.4. In terms of returns, the stock has increased by 7.67% over the past week, while it has a year-to-date decline of 15.24%. The company's strong long-term fundamentals, indicated by a healthy average Return on Equity (ROE) of 23.79% and significant growth in net sales and operating profit, contribute positively to its recent price movement. Additionally, high institutional holdings at 38.21% suggest confidence from knowledgeable investors, which can bolster retail investor sentiment.
In the broader market context, KPIT Technologies has outperformed the benchmark Sensex in the short term, with a weekly return of 7.67% compared to the Sensex's 1.21%. This indicates a favorable position for the stock relative to the market. The IT - Software sector has also seen gains of 2.15%, which may be contributing to the positive sentiment surrounding KPIT. Furthermore, the rising delivery volume, which increased by 33.8% against the five-day average, indicates growing investor interest and liquidity, supporting the stock's upward movement.