Why is Newgen Software falling/rising?

As of 28-Aug, Newgen Software Technologies Ltd is experiencing a price increase, with its current price at Rs 901.40, reflecting a change of 5.6 (0.63%) upward. The stock has shown a positive performance today, outperforming its sector by 2.37%, and reached an intraday high of Rs 922.9, which is a 3.03% increase. Over the past week, the stock has risen by 3.78%, and in the last month, it has gained 5.01%. However, despite these short-term gains, the stock has a year-to-date decline of 46.99% and a one-year decline of 15.16%. The company has demonstrated high management efficiency with a return on equity (ROE) of 19.71% and a low debt-to-equity ratio, indicating a healthy financial position. However, recent flat results and a high valuation compared to peers may be contributing to investor caution.
In the broader market context, Newgen Software's recent performance contrasts sharply with the benchmark Sensex, which has declined by 2.34% over the past week and 1.00% over the past month. Despite the stock's short-term gains, it has underperformed the market over the last year, with a return of -15.16% compared to the benchmark's negative return of -2.08%. This underperformance, coupled with a high price-to-book ratio and a PEG ratio of 2.4, suggests that while the stock may be experiencing a temporary rise, it faces significant challenges in sustaining this momentum in the face of broader market trends and its own financial performance.