Why is Newgen Software falling/rising?

As of 26-Aug, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 895.80, which represents a decrease of Rs 25.9 or 2.81%. Today's price summary indicates that the stock has underperformed its sector by 2.31%, with an intraday low of Rs 889.2, reflecting a drop of 3.53%. Although the stock has shown positive returns over the past week and month, with increases of 2.03% and 5.21% respectively, it has significantly underperformed over the year, with a return of -14.62%. The company has a 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 the latest quarter and a high price-to-book value ratio, indicating an expensive valuation compared to peers.
In the broader market context, while the stock has shown some resilience in the short term, it has underperformed the benchmark index, the BSE500, which recorded a negative return of -3.87% over the past year. This stark contrast highlights the stock's struggles, as it has fallen more sharply than the market average. Despite a healthy long-term growth rate in operating profit and rising investor participation, the overall sentiment remains cautious due to recent flat financial results and high valuation concerns, contributing to the stock's current downward movement.