Why is Tata Elxsi falling/rising?

As of 05-Jun, Tata Elxsi Ltd. is experiencing a price increase, currently at 6,486.90, with a change of 56.15, representing a rise of 0.87%. The stock has shown a positive performance today, outperforming its sector by 0.52% and has been gaining for the last two days, accumulating a total return of 1.32% during this period. However, despite this recent uptick, the stock has underperformed in the short term, with a 1-week return of -0.23% and a year-to-date decline of -4.81%. The company benefits from strong long-term fundamentals, evidenced by an average Return on Equity (ROE) of 31.37% and a low Debt to Equity ratio, but it also faces challenges such as negative quarterly results and a mildly bearish technical trend.
In the broader market context, Tata Elxsi's recent performance contrasts with the Sensex, which has shown a slight gain of 0.80% over the past month. While the stock has outperformed the sector today, its longer-term performance has been lackluster, with a 1-year return of -5.83% compared to the Sensex's gain of 9.49%. The stock's technical indicators are bearish, and it has consistently underperformed against the benchmark over the last three years, contributing to a cautious sentiment among investors. Despite high institutional holdings that suggest confidence from larger investors, the recent decline in delivery volume indicates falling investor participation, which could impact future price movements.