Why is LTI Mindtree falling/rising?

As of 17-Jul, LTI Mindtree Ltd's stock price is currently at 5,190.95, reflecting a decrease of 135.7 points or 2.55%. Today's price summary indicates that the stock has underperformed its sector by 1.42% and has experienced a trend reversal after two consecutive days of gains. The stock reached an intraday low of Rs 5,152.1, marking a decline of 3.28%. Additionally, the stock has shown negative returns over various periods, including a 5.80% drop over the past month and a 7.06% decline year-to-date. Despite strong long-term fundamentals, such as a healthy average return on equity of 24.46% and significant growth in net sales, the stock is currently trading at a premium compared to its peers, which may be contributing to its recent price decline.
In the broader market context, LTI Mindtree's short-term performance has lagged behind the benchmark Sensex, which has only declined by 1.12% over the past week. This underperformance is further highlighted by a decrease in investor participation, with delivery volume falling by 19.14% against the five-day average. While the company has high institutional holdings at 22.6%, indicating confidence from larger investors, the stock's recent price movement suggests that market sentiment may be cautious, particularly given its negative returns over the past year and the high PEG ratio of 33.5.