Why is Tata Comm falling/rising?

As of 16-Oct, Tata Communications Ltd is currently priced at Rs. 1,947.00, reflecting a decrease of Rs. 8.55 or 0.44%. The stock has recently hit a new 52-week high of Rs. 2004 but has fallen after two consecutive days of gains. Today, it underperformed its sector by 0.51%, with an intraday high of Rs. 2004 and a low of Rs. 1908.4. Despite this decline, the stock has shown strong performance over various periods, with a 14.73% increase over the past week and a 14.29% rise year-to-date. The company benefits from high management efficiency, indicated by a return on capital employed (ROCE) of 19.60%, and it is trading at a discount compared to its peers, which may support its valuation.
In the broader market context, Tata Communications has outperformed the Sensex over the past week, month, and year-to-date, highlighting its strong market position. The stock's performance has been bolstered by high institutional holdings at 31.99%, suggesting confidence from knowledgeable investors. However, the recent price drop may reflect profit-taking after reaching a new high, as well as a slight decline in daily trading volume, which indicates a potential shift in investor sentiment. Overall, while the stock has shown resilience and strong long-term performance, the current decline may be attributed to short-term fluctuations and market corrections.