Why is Mphasis falling/rising?

As of 15-Jul, Mphasis Ltd. is experiencing a price increase, currently at Rs 2,882.00, reflecting a rise of Rs 50.0 or 1.77%. The stock has shown positive momentum, gaining for the last two days with a total return of 2.16% during this period. It has outperformed its sector by 1.39% today and reached an intraday high of Rs 2,889.7. Additionally, Mphasis is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has demonstrated strong financial performance, with positive results for the last three consecutive quarters, including record net sales and operating profit metrics. High institutional holdings at 55.52% suggest confidence from knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, Mphasis has shown a mixed performance relative to the benchmark Sensex. Over the past week, Mphasis has declined by 0.96%, while the Sensex has fallen by 1.36%. However, over the past month, Mphasis has outperformed the Sensex with an increase of 8.95% compared to the benchmark's 1.79%. This indicates that while the stock has faced some short-term challenges, its recent performance and strong fundamentals have contributed to its rising price, contrasting with the broader market trends.