Why is Tata Elxsi falling/rising?

As of 07-Aug, Tata Elxsi Ltd. is experiencing a price increase, currently at 5,894.95, reflecting a change of 78.1 or 1.34% upward. Today's performance indicates a trend reversal as the stock has gained after five consecutive days of decline, outperforming its sector by 0.66%. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend overall. The stock has shown consistent underperformance against the benchmark, with a year-to-date return of -13.50% compared to the Sensex's +3.18%. Despite this, Tata Elxsi maintains strong long-term fundamentals, evidenced by an average Return on Equity (ROE) of 31.37% and a low Debt to Equity ratio, which may support investor confidence.
In the broader market context, Tata Elxsi's recent performance contrasts with the benchmark, as it has underperformed significantly over the past three years, generating -36.70% returns compared to the Sensex's +38.08%. The stock's negative results reported on June 25, including a -21.6% decline in PAT and the lowest net sales figures, have contributed to its valuation concerns, making it appear expensive relative to its peers. Despite high institutional holdings, which have increased by 1.27% over the previous quarter, the stock's liquidity remains adequate for trading, but falling investor participation, as indicated by a -36.88% drop in delivery volume, raises concerns about future demand.