Why is Newgen Software falling/rising?

As of 06-Aug, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 933.60, reflecting a decrease of 6.1 points or 0.65%. Today's price summary indicates that the stock has underperformed its sector by 1.13% and has reversed its trend after two consecutive days of gains. The stock reached an intraday high of Rs 977.35 but also dipped to a low of Rs 907.4, with more trading volume occurring near the lower price. Over the past week, the stock has shown a positive return of 9.46%, although it has significantly underperformed over the past month with a decline of 17.58%. Despite a high management efficiency indicated by a return on equity (ROE) of 19.71% and a low debt-to-equity ratio, the stock's valuation appears expensive compared to its peers, contributing to the recent price drop.
In the broader market context, the Sensex has seen a slight decline of 1.15% over the past week, suggesting that the market sentiment is somewhat negative. However, Newgen's performance over the year shows a modest decline of 2.66%, contrasting with the Sensex's gain of 2.48%. The company's flat results in the latest quarter, including the lowest operating profit to net sales ratio, have raised concerns among investors. Additionally, the high price-to-book value ratio and a PEG ratio of 2.4 indicate that the stock may be overvalued, which could be influencing the downward pressure on its price.