Why is Persistent Sys falling/rising?

As of 29-Jul, Persistent Systems Ltd's stock price is currently at 5,182.70, reflecting an increase of 46.7 points or 0.91%. Today's price summary indicates that the stock has outperformed its sector by 1% and has experienced a trend reversal, gaining after five consecutive days of decline. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 56.22% against the 5-day average. Despite these challenges, the company has demonstrated strong long-term fundamentals, with a healthy average return on equity of 20.92% and consistent growth in net sales and operating profit, which could support future price stability.
In the broader market context, Persistent Systems has underperformed the benchmark Sensex in the short term, with a 1-week return of -9.69% compared to the Sensex's -1.03%. However, over the past year, the stock has generated a return of 8.67%, outperforming the Sensex's flat performance of -0.02%. While the stock has high institutional holdings at 51.96%, indicating confidence from larger investors, it also faces risks due to its expensive valuation relative to peers, as evidenced by a Price to Book Value of 12.7. This premium valuation, combined with a high PEG ratio of 1.9, may contribute to investor caution despite the company's strong fundamentals.