Why is Tech Mahindra falling/rising?

As of 12-Aug, Tech Mahindra Ltd. is experiencing a rise in its stock price, currently at 1,509.85, reflecting an increase of 27.35 or 1.84%. The stock has outperformed its sector by 1.56% today and has shown consecutive gains over the last two days, with a total return of 1.91% during this period. Despite a decline of 5.47% over the past month and a year-to-date drop of 11.47%, the company has demonstrated strong performance in recent quarters, with a high return on equity (ROE) of 16.04% and a low debt-to-equity ratio. Additionally, the stock's high dividend yield of 3.03% and significant institutional holdings at 55.58% suggest a solid foundation, although falling investor participation, as indicated by a 44.66% drop in delivery volume, may raise concerns.
In the broader market context, Tech Mahindra's short-term performance has been favorable compared to the benchmark Sensex, which has declined by 0.59% over the past week while Tech Mahindra has increased by 1.66%. However, the stock's long-term growth prospects appear limited, with an annual operating profit growth rate of only 6.59% over the last five years and a high price-to-book value ratio of 5.4, indicating it may be trading at a premium compared to peers. Despite generating a modest return of 0.29% over the past year, the company's profits have risen significantly, leading to a favorable PEG ratio of 0.4. This combination of factors contributes to the current upward movement in the stock price, even as concerns about long-term growth persist.