Why is Mphasis falling/rising?

As of 04-Jul, Mphasis Ltd. is experiencing a price increase, currently at 2,925.00 with a change of 37.45, representing a rise of 1.3%. The stock has been on an upward trend, gaining 4.44% over the past week and outperforming its sector by 0.59% today. It has consistently risen for the last five days, trading above its moving averages across various time frames. Additionally, Mphasis has demonstrated strong financial performance, with positive results reported for the last three consecutive quarters, including record net sales and operating profit metrics. The company also boasts a high return on equity of 19.05% and a low debt-to-equity ratio, which further supports investor confidence.
In the broader market context, Mphasis's recent performance stands out as it has generated a return of 13.20% over the past year, significantly outperforming the market benchmark, which has only returned 2.13%. While the stock has shown strong performance, there is a noted decline in investor participation, with delivery volume dropping by 70.81% compared to the five-day average. Despite this, the stock remains liquid enough for trading, indicating that while interest may be waning, the fundamentals and institutional support are strong enough to sustain its upward trajectory.