Why is Newgen Software falling/rising?

As of 25-Aug, Newgen Software Technologies Ltd is experiencing a rise in its stock price, currently at 921.70, which reflects an increase of 55.2 or 6.37%. Today's performance indicates that the stock has outperformed its sector by 3.97% and has gained after two consecutive days of decline, reaching an intraday high of Rs 946.1. Over the past week, the stock has shown a return of +3.87%, and +8.26% over the last month, contrasting with its year-to-date decline of -45.80%. Despite a high management efficiency indicated by a return on equity (ROE) of 19.71% and a low debt-to-equity ratio, the stock has faced challenges due to flat results in June and a high valuation compared to peers, which may contribute to investor caution.
In the broader market context, Newgen Software's recent performance is notably stronger than the benchmark Sensex, which has only increased by 0.45% over the past week. However, the stock has underperformed over the last year, with a decline of -14.40% compared to the market's -2.11%. The IT software sector has gained by 2.38%, indicating a positive trend in the industry, yet Newgen's liquidity has been affected by a significant drop in delivery volume. This suggests that while there is some positive momentum in the short term, the stock's long-term outlook remains uncertain due to its historical underperformance and high valuation metrics.