Why is Newgen Software falling/rising?

As of 01-Aug, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 818.70, which reflects a decrease of Rs 33.1 or 3.89%. The stock has underperformed its sector by 2.29% today and has been on a consecutive downward trend for the last three days, resulting in a total drop of 4.75% during this period. Additionally, the stock has shown significant negative returns over various time frames, including a 28.77% decline over the past month and a 51.86% drop year-to-date. The company's performance metrics indicate that it is trading below all major moving averages, and there has been a notable decrease in investor participation, with delivery volume falling by 44.15% against the five-day average.
In the broader market context, Newgen Software's recent performance has been significantly worse than the benchmark, with a one-year return of -22.68% compared to the BSE500's decline of only -4.13%. This underperformance is compounded by flat quarterly results, which included the lowest operating profit to net sales ratio and a high price-to-book value ratio, indicating an expensive valuation relative to peers. Despite some positive factors such as high management efficiency and institutional holdings, the overall sentiment remains negative due to the company's inability to generate favorable returns in the current market environment.