Why is Newgen Software falling/rising?

As of 24-Jun, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 1,125.20, which reflects a decrease of Rs 27.2 or 2.36%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 9.36% during this period. Additionally, the stock's performance over the past week and month shows a decrease of 8.02% and 10.19%, respectively, while year-to-date returns are down by 33.83%. Despite these short-term challenges, the company has demonstrated strong long-term fundamentals, including a low debt-to-equity ratio and consistent growth in operating profit, which may provide some support for the stock in the future.
In the broader market context, Newgen Software's recent performance contrasts sharply with the Sensex, which has gained 0.58% over the past week and 0.41% over the past month. This divergence indicates that while the overall market is experiencing positive momentum, Newgen Software is struggling significantly. The stock's liquidity has also decreased, with a notable drop in delivery volume, suggesting reduced investor interest. However, the company maintains a strong institutional holding of 28.48%, which could help stabilize the stock in the long run, despite its current underperformance compared to the benchmark.