Why is Tech Mahindra falling/rising?

As of 17-Sep, Tech Mahindra Ltd. is experiencing a price increase, currently at 1,546.65, reflecting a rise of 15.15 or 0.99%. The stock has shown a positive performance today, outperforming its sector by 0.34% and has been on a consecutive gain streak for the last two days, accumulating a total return of 1.77% during this period. In the past week, the stock has risen by 1.36%, while over the past month, it has increased by 4.06%. However, it is important to note that the stock has underperformed on a year-to-date basis, with a decline of 9.32%. Positive factors contributing to the stock's recent movement include high management efficiency, a low debt-to-equity ratio, and consistent positive results over the last five quarters, with significant growth in profit after tax and high institutional holdings, which suggest strong investor confidence.
In the broader market context, Tech Mahindra's short-term performance has been slightly below that of the Sensex, which has risen by 1.56% over the same week. Despite the recent gains, the stock's long-term outlook remains concerning, as it has generated a negative return of 6.24% over the past year and has underperformed against the BSE500 in multiple time frames. The stock's valuation appears expensive compared to its peers, which may limit its appeal to investors looking for long-term growth. Overall, while the recent price increase is encouraging, the underlying factors indicate a mixed outlook for Tech Mahindra's future performance.