Why is Newgen Software falling/rising?

As of 14-Aug, Newgen Software Technologies Ltd's stock price is currently at 887.35, reflecting an increase of 31.1 or 3.63%. Today's performance indicates a trend reversal, as the stock has gained after six consecutive days of decline. It outperformed its sector by 3.41% and reached an intraday high of Rs 929, representing an 8.5% increase. However, despite this positive movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 80.08% against the 5-day average. Over the past year, the stock has underperformed, with a return of -13.00%, while the market has generated negative returns of -0.57%.
In the broader market context, Newgen Software's short-term return of -1.89% over the past week contrasts with the Sensex, which has seen a negligible change of -0.03%. This underperformance highlights the stock's volatility and challenges in maintaining investor confidence. While the company boasts high management efficiency with a return on equity of 19.71% and a low debt-to-equity ratio, its recent flat results and high valuation compared to peers may deter investors. The stock's performance has been affected by a combination of factors, including a decline in operating profit and a high price-to-book value ratio, suggesting that despite today's rise, the overall sentiment remains cautious.