Why is Ace Soft. Exp. falling/rising?

As of 24-Jul, Ace Software Exports Ltd is experiencing a decline in its stock price, currently at Rs 253.80, which reflects a decrease of Rs 8.6 or 3.28%. Today's price summary indicates that the stock has underperformed its sector by 1.77% and has fallen after three consecutive days of gains, reaching an intraday low of Rs 247.55. The stock's performance over the past week shows a slight decline of 0.24%, while its year-to-date performance has significantly dropped by 20.18%. Despite positive financial results over the last six quarters, including a 113.6% growth in PAT and a 53.2% increase in net sales, the stock's low return on equity of 4.58% and high price-to-book ratio suggest concerns regarding management efficiency and valuation, contributing to the recent price decline.
In the broader market context, the stock's short-term performance has been weaker than the benchmark, with a 1-week return of -0.24% compared to the Sensex's -0.09%. While the stock has generated a notable return of 28.30% over the past year, this is juxtaposed against a backdrop of a 5.18% gain in the broader market year-to-date. The falling investor participation, as indicated by a 29.36% drop in delivery volume, further highlights a lack of confidence among investors, which may be exacerbating the stock's downward trend.