Why is Newgen Software falling/rising?

As of 08-Jul, Newgen Software Technologies Ltd is experiencing a price increase, currently at Rs 1,131.50, reflecting a rise of 13.4 points or 1.2%. Today's price summary indicates that the stock has outperformed its sector by 0.93% and has gained after five consecutive days of decline, reaching an intraday high of Rs 1,146. Despite this positive movement, the stock's performance over the past week shows a decline of 1.56%, and it has dropped 8.26% over the past month. However, the company has demonstrated strong long-term fundamentals, with a low debt-to-equity ratio and consistent profitability, as evidenced by a 20.89% growth in PAT over the last nine months and a healthy annual operating profit growth rate of 32.29%. High institutional holdings at 28.48% suggest confidence from knowledgeable investors, which may support the stock's recent upward movement.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has shown a slight increase of 0.02% over the past week. While Newgen Software has outperformed the sector today, its year-to-date performance is significantly lower, with a decline of 33.46% compared to the Sensex's gain of 7.13%. This disparity highlights the challenges the company faces in the short term, despite its strong fundamentals and positive long-term outlook. The falling investor participation, indicated by an 8.41% decrease in delivery volume, may also contribute to the stock's volatility, suggesting that while the stock is currently rising, it faces underlying pressures that could affect its stability moving forward.