Why is Newgen Software falling/rising?

As of 01-Sep, Newgen Software Technologies Ltd is currently priced at 891.50, reflecting an increase of 7.5, or 0.85%. Despite this uptick, the stock has underperformed its sector by 0.42% today. Over the past week, the stock has seen a decline of 3.28%, while it has performed better over the past month with an increase of 8.89%. However, the stock's year-to-date performance is concerning, showing a significant drop of 47.57%. The company's management efficiency is notable, with a high return on equity (ROE) of 19.71% and a low debt-to-equity ratio. Nevertheless, recent financial results have been flat, with a decrease in profit before tax and operating profit margins, contributing to a perception of an expensive valuation relative to peers.
In the broader market context, the Sensex has experienced a decline of 1.56% over the past week, indicating that Newgen's short-term performance is worse than the benchmark. The stock's year-long performance is also troubling, with a return of -19.55% compared to the market's -2.43%. This underperformance suggests that while institutional holdings are high, indicating confidence from larger investors, the overall market sentiment has not favored Newgen. The company's recent financial results and high valuation metrics, including a PEG ratio of 2.4, further complicate its outlook, leading to cautious investor sentiment despite some positive indicators.