Why is Newgen Software falling/rising?

As of 29-Aug, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at Rs 884.00, reflecting a decrease of Rs 17.4 or 1.93%. Today's price summary indicates that the stock has underperformed its sector by 1.25%, with an intraday low of Rs 880.05, which is a drop of 2.37%. The stock has shown a modest increase of 2.02% over the past week and 2.85% over the past month; however, it has significantly underperformed on a year-to-date basis with a decline of 48.02%. The company's high management efficiency, indicated by a return on equity (ROE) of 19.71%, and low debt-to-equity ratio are positive factors. However, the recent flat results for June 25, including a 10.81% fall in profit before tax and the lowest operating profit to net sales ratio, contribute to the stock's negative sentiment.
In the broader market context, while the stock has underperformed the market over the last year, generating a return of -17.15% compared to the BSE500's negative return of -5.40%, it has shown strong performance over longer periods, such as a 353.16% increase over three years. The stock's current valuation appears expensive with a price-to-book value of 8.3, which is above its peers' average historical valuations, further pressuring its price. Additionally, a decline in investor participation, with delivery volume falling by 19.21% against the five-day average, suggests waning interest among investors, which could be contributing to the stock's downward movement.