Why is Newgen Software falling/rising?

As of 01-Jul, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 1,149.40, which reflects a decrease of Rs 24.6 or 2.1%. Today's price summary indicates that the stock has underperformed its sector by 1.6%, with an intraday low of Rs 1,141.05, marking a drop of 2.81%. In terms of returns, the stock has shown a negative performance over the past month, down 7.04%, while it has outperformed the benchmark Sensex over the past week with a gain of 2.15%. Despite the recent downturn, the company has demonstrated strong long-term fundamentals, including a low debt-to-equity ratio and consistent profitability, with a return on capital employed averaging 42.96%. The company has also reported positive results for the last nine consecutive quarters, contributing to its long-term growth narrative.
Broader market context shows that while Newgen Software has struggled in the short term, the benchmark Sensex has recorded a positive return of 2.76% over the past month. The stock's liquidity appears adequate, but there is a notable decline in investor participation, with delivery volume falling by 67.89% against the five-day average. This decline in trading activity may reflect investor caution despite the company's strong fundamentals and high institutional holdings at 28.48%. Overall, the combination of recent price declines, reduced investor participation, and the stock's performance relative to the benchmark suggests a challenging environment for Newgen Software in the short term, despite its solid long-term prospects.