Why is Tech Mahindra falling/rising?

As of 30-Jul, Tech Mahindra Ltd. is currently priced at 1,460.00, reflecting an increase of 2.05 (0.14%). The stock has been gaining for the last two days, with a return of 0.69% during this period. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend overall. Additionally, the delivery volume has decreased by 19.53% compared to the 5-day average, suggesting a decline in investor participation. Despite these challenges, the company has demonstrated strong management efficiency with a high return on equity (ROE) of 16.04% and a low debt-to-equity ratio, which may support investor confidence. The company has also reported positive results for the last five consecutive quarters, with a significant growth in profit after tax (PAT) of 52.55% over the latest six months.
In the broader market context, Tech Mahindra's short-term performance has been notably weaker compared to the benchmark, with a 1-week return of -5.54% against the Sensex's -1.50%. This underperformance is further highlighted by the stock's year-to-date decline of 14.40%, while the Sensex has gained 4.28% during the same period. The stock's long-term growth prospects appear limited, as indicated by a modest operating profit growth rate of 6.59% over the past five years and a relatively high price-to-book value ratio of 5.2, suggesting it may be overvalued compared to peers. Overall, while there are positive factors supporting the stock, the recent price movements reflect a combination of declining investor interest and underperformance relative to the broader market.