Why is Tech Mahindra falling/rising?

As of 01-Sep, Tech Mahindra Ltd. is experiencing a price increase, with its current price at 1,506.65, reflecting a rise of 25.35 or 1.71%. Today's performance indicates a trend reversal, as the stock has gained after three consecutive days of decline. It has outperformed its sector by 0.44%, and there has been a notable increase in investor participation, with delivery volume rising by 106.99% against the five-day average. Despite a year-to-date decline of 11.66%, the stock has shown a positive one-month return of 4.70%. The company boasts a high management efficiency with a return on equity (ROE) of 16.04% and a low debt-to-equity ratio, while also declaring positive results for the last five consecutive quarters, contributing to its recent upward movement.
In the broader market context, Tech Mahindra's short-term performance has outperformed the Sensex, which has declined by 1.56% over the past week. However, the stock has underperformed in the long term, with a year-over-year return of -7.89% compared to the Sensex's -2.43%. The stock's premium valuation, indicated by a high price-to-book value and a low growth rate in operating profit, raises concerns about its long-term growth potential. Despite these challenges, the high institutional holdings at 55.58% suggest that knowledgeable investors are confident in the company's fundamentals, which may support the recent price increase.