Why is Tech Mahindra falling/rising?

As of 07-Aug, Tech Mahindra Ltd. is experiencing a rise in its stock price, currently at 1,483.90, reflecting an increase of 24.5 or 1.68%. The stock has outperformed its sector today by 1%, reaching an intraday high of Rs 1493, which is a 2.3% increase. In the short term, the stock has shown a positive return of 1.36% over the past week, contrasting with a decline of 8.67% over the past month. The company has demonstrated strong performance metrics, including a high return on equity (ROE) of 16.04% and a low debt-to-equity ratio, which supports investor confidence. Additionally, the stock has seen a significant increase in delivery volume, indicating rising investor participation, and it boasts a high dividend yield of 3.09%.
In the broader market context, while Tech Mahindra has outperformed the Sensex in the short term, the benchmark index has seen a decline of 0.69% over the same week. Despite the positive short-term performance, the stock has faced challenges in long-term growth, with operating profit growth averaging only 6.59% over the last five years. The stock's valuation appears expensive compared to its peers, trading at a premium with a price-to-book value of 5.3. Although the company has reported positive results for the last five consecutive quarters, the relatively low growth rate in operating profit compared to its profit increase raises concerns about sustainability, which may affect investor sentiment moving forward.