Why is Newgen Software falling/rising?

As of 18-Aug, Newgen Software Technologies Ltd is currently priced at 887.35, showing no change (0.00%). The stock has outperformed its sector today by 0.45%, and its delivery volume has significantly increased by 572.83% compared to the 5-day average, indicating rising investor participation. However, the stock has experienced a decline of 7.84% over the past month and a substantial drop of 47.82% year-to-date. Despite a high return on equity (ROE) of 19.71% and a low debt-to-equity ratio, the company reported flat results in June, with a notable decrease in profit before tax and operating profit margins. Additionally, the stock's valuation appears expensive compared to its peers, as indicated by a price-to-book value of 8.3 and a PEG ratio of 2.4, which may deter some investors.
In the broader market context, Newgen Software's performance has been significantly weaker than the benchmark, as it has underperformed the BSE500 index, which recorded a negative return of only -1.14% over the past year, while Newgen's return was -18.44%. This stark contrast highlights the challenges the company faces in attracting investor confidence despite its strong management efficiency and institutional holdings. The overall market has shown modest gains, with the Sensex up by 0.83% over the past week, further emphasizing the stock's struggle to keep pace with broader market trends.