Why is Newgen Software falling/rising?

As of 17-Jul, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at 1,026.50, reflecting a decrease of 67.2 points or 6.14%. Today's price summary indicates that the stock has underperformed its sector by 5.01% and has fallen after two consecutive days of gains. The stock reached an intraday low of Rs 1018.25, showing a significant drop of 6.9%. Additionally, it is trading below all key moving averages, indicating a bearish trend. Despite high management efficiency and a low debt-to-equity ratio, the company is facing challenges with its lowest quarterly PBDIT and operating profit margins, which contribute to its expensive valuation relative to peers. The stock's performance over the past month shows a decline of 16.09%, while the year-to-date return is down 39.64%, highlighting ongoing struggles.
In the broader market context, Newgen Software's recent performance contrasts sharply with the Sensex, which has gained 0.83% over the past month. The stock's volatility today, with an intraday fluctuation of 6.03%, suggests investor uncertainty. Although there has been a rise in delivery volume, indicating increased investor participation, the overall sentiment remains negative due to the company's disappointing financial metrics and high valuation concerns. The stock's year-over-year return of -2.42% further emphasizes its underperformance compared to the benchmark, which has risen by 1.91% in the same period.