Why is Wipro falling/rising?

As of 07-Aug, Wipro Ltd. is currently priced at 242.45, reflecting an increase of 2.45, or 1.02%. Today's price movement indicates a trend reversal as the stock has gained after two consecutive days of decline. Despite this uptick, Wipro has underperformed in the short term, with a 1-week return of -2.36% and a 1-month return of -9.42%. The stock is trading below its moving averages across various time frames, which suggests a bearish trend. However, there has been a rise in investor participation, with delivery volume increasing by 6.41% compared to the 5-day average. The company also boasts a high dividend yield of 4.58%, and its management efficiency is highlighted by a high return on equity (ROE) of 16.75%. Despite these positives, the stock has shown consistent underperformance against benchmarks over the past year, with a return of -2.53%.
In the broader market context, Wipro's recent performance contrasts sharply with the Sensex, which has seen a slight decline of only 0.69% over the past week. This indicates that while Wipro is experiencing a minor rebound today, it has struggled significantly compared to the overall market trends. The company's long-term growth prospects appear limited, as evidenced by a low annual growth rate in operating profit and flat results in recent quarters. Additionally, Wipro's consistent underperformance against the benchmark over the last three years raises concerns among investors, despite the attractive valuation metrics and rising profits. Overall, while the stock has shown some positive movement today, the underlying factors suggest a challenging environment for sustained growth.