Why is Newgen Software falling/rising?

As of 12-Aug, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 860.95, which reflects a decrease of Rs 5.3 or 0.61%. The stock has been underperforming, with a consecutive fall over the last five days, resulting in an overall return of -8.38% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite high management efficiency and a low debt-to-equity ratio, the company reported flat results for June 25, with a significant drop in profit before tax and operating profit margins, contributing to its negative performance. Furthermore, the stock's valuation appears expensive compared to its peers, which may deter investors.
In the broader market context, Newgen Software's performance has significantly lagged behind the benchmark, with a year-to-date return of -49.37% compared to a positive return of 2.68% for the Sensex. Over the past year, while the market has seen a decline of only -2.11%, Newgen's stock has fallen by -17.59%, indicating a substantial underperformance. The decline in investor participation, evidenced by a 78.38% drop in delivery volume, further exacerbates the stock's challenges. Overall, the combination of disappointing financial results, high valuation concerns, and poor market sentiment has contributed to the stock's downward trajectory.