Why is Zensar Tech. falling/rising?

As of 03-Nov, Zensar Technologies Ltd is experiencing a decline in its stock price, currently at Rs 756.20, which reflects a decrease of Rs 41.5 or 5.2%. The stock has underperformed its sector by 4.81% today and has been on a downward trend for the last two days, accumulating a total loss of 5.79%. Additionally, the stock has touched an intraday low of Rs 745.8, indicating significant selling pressure. Over the past week, Zensar has seen a return of -6.52%, contrasting with a modest gain of 0.82% year-to-date. Despite these recent declines, the company has reported strong quarterly results with record net sales and profits, and it maintains a low debt-to-equity ratio, which could suggest a stable financial position. However, the stock is currently trading below all major moving averages, indicating a bearish trend.
In the broader market context, Zensar's short-term performance has significantly lagged behind the benchmark Sensex, which has only declined by 0.94% over the past week. This underperformance may be attributed to the stock's recent price movements and market sentiment, despite its consistent returns over the past three years and high institutional holdings. The stock's premium valuation compared to peers and a relatively high PEG ratio of 3.2 may also be contributing factors to the current selling pressure, as investors reassess their positions in light of recent performance. Overall, while Zensar Technologies has demonstrated strong fundamentals, the recent price action suggests a cautious outlook among investors.