Why is Tech Mahindra falling/rising?

As of 25-Aug, Tech Mahindra Ltd. is currently priced at 1,523.80, reflecting an increase of 21.3 points or 1.42%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and reached an intraday high of Rs 1539.2, which is a 2.44% increase. Despite this positive movement today, the stock has underperformed its sector by 0.98%. Over the past week, Tech Mahindra has outperformed the Sensex with a return of 3.58% compared to the benchmark's 0.45%. However, the stock's year-to-date performance remains negative at -10.66%, indicating challenges in the longer term. Positive factors include high management efficiency with a return on equity (ROE) of 16.04%, a low debt-to-equity ratio, and consistent positive results over the last five quarters, which have contributed to the stock's recent uptick.
In the broader market context, while Tech Mahindra has shown some short-term resilience, its year-to-date performance significantly lags behind the Sensex, which has gained 4.48% during the same period. The IT sector, to which Tech Mahindra belongs, has seen a gain of 2.38%, indicating a favorable environment for technology stocks. However, the stock's long-term growth prospects appear weak, with an annual operating profit growth rate of only 6.59% over the last five years and a high price-to-book value ratio suggesting it is trading at a premium compared to peers. This combination of short-term gains amidst long-term concerns reflects a complex picture for investors considering Tech Mahindra's stock.