Why is Mphasis falling/rising?

As of 09-Jul, Mphasis Ltd. is currently priced at 2,852.50, reflecting a decline of 57.5 points or 1.98%. The stock has underperformed its sector today by 1.23%, opening with a loss of 3.02% and reaching an intraday low of Rs 2,822.1. Over the past week, Mphasis has seen a slight decrease of 1.16%, although it has performed well over the past month with a return of 10.15%. The company has demonstrated strong management efficiency with a high return on equity (ROE) of 19.05% and has maintained a low debt-to-equity ratio. Positive financial results in the last three quarters, including record net sales and operating profit, suggest a solid operational foundation. However, the stock is trading at a premium compared to its peers, which may contribute to the recent price decline.
In the broader market context, the Sensex has shown a slight increase of 0.15% over the past week, indicating that Mphasis's short-term performance is lagging behind the benchmark. Despite this, the stock has generated a respectable return of 9.61% over the past year, outperforming the Sensex's 3.96% return. The rising investor participation, with a 10.36% increase in delivery volume, suggests that there is still interest in the stock, even as it faces short-term challenges. The high institutional holdings at 55.52% indicate confidence from more sophisticated investors, which may help stabilize the stock in the long run.