Why is Newgen Software falling/rising?

As of 19-Aug, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at 878.00, which reflects a decrease of 9.35 or 1.05%. The stock has underperformed its sector today by 1.4%, and while it has shown a positive return of 1.98% over the past week, it has significantly underperformed over the last month with a decline of 8.81%. Additionally, the stock's performance year-to-date is down by 48.37%. The company has high management efficiency with a return on equity (ROE) of 19.71% and a low debt-to-equity ratio, but it also faces challenges such as flat results in its latest quarterly report, which showed a decline in profit before tax and operating profit to net sales at its lowest levels. The stock's valuation appears expensive relative to its peers, with a price-to-book value of 8.2, contributing to its recent price movement.
In the broader market context, Newgen Software's performance has been notably weaker than the benchmark, with a one-year return of -18.05% compared to the Sensex's gain of 1.52%. This underperformance is further highlighted by the company's recent quarterly results, which have not met expectations, leading to a decline in investor confidence. The stock's liquidity remains adequate for trading, but a significant drop in delivery volume by 31.52% against the five-day average indicates falling investor participation, which could exacerbate the downward pressure on the stock price. Overall, while the company has strong fundamentals, the recent financial results and high valuation relative to peers are contributing to the stock's decline.