Why is Tata Elxsi falling/rising?

As of 13-Aug, Tata Elxsi Ltd. is experiencing a price increase, currently at 5,687.50, reflecting a change of 72.25 or 1.29% upward. Today's price summary indicates that the stock has outperformed its sector by 1.15% and has shown a trend reversal, gaining after three consecutive days of decline. Despite this positive movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 2.22%, and it has underperformed the benchmark Sensex over the last month and year, with returns of -6.26% and -16.22%, respectively. The company maintains strong long-term fundamentals, evidenced by a high average Return on Equity (ROE) of 31.37% and a low Debt to Equity ratio, alongside increased institutional holdings, which may support the stock's recent upward movement.
In the broader market context, Tata Elxsi's short-term performance has been notably weaker than the benchmark, with a 1-month decline of -6.26% compared to the Sensex's -2.38%. This consistent underperformance against the benchmark over the last three years, coupled with negative quarterly results such as a significant drop in profit after tax and net sales, suggests that while the stock has seen a temporary rise, it faces ongoing challenges. The stock's valuation remains high relative to its peers, and despite the recent uptick, the overall trend indicates a struggle to recover from previous declines, reflecting a complex interplay of investor sentiment and fundamental performance.