Why is Tech Mahindra falling/rising?

As of 04-Aug, Tech Mahindra Ltd. is experiencing a price increase, currently at 1,475.45, reflecting a rise of 36.65 or 2.55%. The stock has outperformed its sector by 0.93% today, reaching an intraday high of Rs 1,477.35. In the short term, the stock has shown a positive trend with a 1.76% increase over the past week, while it has faced a decline of 10.85% over the past month. Notably, the company has demonstrated strong financial performance, with a high return on equity (ROE) of 16.04%, a low debt-to-equity ratio, and positive results for the last five consecutive quarters, including a significant growth in profit after tax (PAT) of 52.55% over the latest six months. However, concerns about long-term growth persist due to a modest annual operating profit growth rate of 6.59% over the past five years and a relatively high price-to-book value ratio.
In the broader market context, Tech Mahindra's recent performance contrasts favorably with the benchmark Sensex, which has only increased by 0.16% over the past week. While the stock has shown resilience in the short term, it has underperformed on a year-to-date basis, with a decline of 13.49% compared to the Sensex's gain of 3.69%. The stock's liquidity is also favorable, with a delivery volume increase of 51.71% against the five-day average, indicating rising investor participation. Despite the positive short-term indicators, the stock's premium valuation compared to its peers may pose challenges for sustained growth, as evidenced by its negative returns over the past year.