Why is Persistent Sys falling/rising?

As of 13-Aug, Persistent Systems Ltd is experiencing a slight increase in its stock price, currently at 5,240.15, with a change of 4.15 (0.08%) upwards. The stock has been gaining for the last three days, rising by 2.78% during this period. In terms of performance against benchmarks, the stock has shown a 3.90% increase over the past week, while the Sensex has remained nearly flat with a change of -0.01%. The company has demonstrated strong long-term fundamentals, with a healthy average Return on Equity (ROE) of 20.92% and consistent positive results over the last six quarters, which have contributed to investor confidence and recent price movements.
In the broader market context, while Persistent Systems has outperformed the Sensex in the short term, it has faced challenges in the longer term, with a year-to-date decline of 19.00% compared to the Sensex's increase of 3.07%. The stock's liquidity is supported by a significant rise in delivery volume, indicating increased investor participation, which is a positive sign for future performance. Additionally, high institutional holdings at 51.96% suggest that knowledgeable investors are backing the stock, further enhancing its stability despite recent fluctuations. Overall, the combination of strong fundamentals and rising investor interest appears to be driving the stock's recent upward movement.