Why is Newgen Software falling/rising?

As of 25-Jul, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 851.40, which represents a decrease of Rs 20.05 or 2.3%. The stock has been underperforming significantly, with a consecutive fall over the last seven days resulting in a total decline of 22.15%. It has also underperformed its sector by 0.83% today. The stock's performance over the past week shows a drop of 11.58%, and over the past month, it has fallen by 26.33%. Additionally, the stock is trading below all key moving averages, indicating a bearish trend. Despite having a high return on equity and low debt-to-equity ratio, the company's recent financial performance has been disappointing, with the lowest quarterly operating profit to net sales ratio and a high price-to-book value suggesting an expensive valuation compared to peers.
In the broader market context, Newgen Software's performance has been notably worse than the benchmark, with a one-year return of -19.68% compared to the Sensex's modest gain of 1.78%. This stark contrast highlights the stock's struggles relative to the overall market, which has only seen a slight decline of 0.19% in the same period. The company's high institutional holdings may provide some stability; however, the falling investor participation, as evidenced by a significant drop in delivery volume, indicates a lack of confidence among retail investors. Overall, the combination of poor recent financial results, high valuation concerns, and underperformance against the benchmark contributes to the stock's current downward trajectory.