Why is Mastek falling/rising?

As of 07-Jul, Mastek Ltd's stock price is currently at 2,563.80, reflecting an increase of 23.7 points or 0.93%. The stock has shown a positive performance today, outperforming its sector by 1.57%, and has been on a consecutive gain for the last two days, rising 6.12% during this period. Additionally, the stock has performed well over the past week with a return of +4.98%, while it has also seen a significant increase in investor participation, with delivery volume rising by 199.71% compared to the 5-day average. Despite a year-to-date decline of -13.82%, the company has demonstrated strong fundamentals, including a high return on equity (ROE) of 19.54% and healthy long-term growth with net sales increasing at an annual rate of 26.39%. Institutional investors have also increased their stake, indicating confidence in the company's prospects.
In the broader market context, Mastek's short-term performance contrasts with the Sensex, which has seen a slight decline of -0.20% over the past week. While Mastek has struggled over the longer term with a year-over-year return of -9.71%, its profits have risen by 21.2%, suggesting that the stock may be undervalued relative to its earnings growth. The stock is trading at a fair value compared to its peers, supported by a PEG ratio of 1.1, which may attract further interest from investors looking for growth opportunities. Overall, the combination of rising investor participation, strong management efficiency, and attractive valuation metrics contributes to the stock's recent upward movement.