Why is Newgen Software falling/rising?

As of 03-Sep, Newgen Software Technologies Ltd is experiencing a price increase, currently at Rs 906.80, which reflects a rise of 16.3 or 1.83%. The stock has outperformed its sector today by 2.38%, reaching an intraday high of Rs 922, which is a 3.54% increase. Over the past week, the stock has shown a modest gain of 1.23%, while over the past month, it has risen by 10.76%. However, it is important to note that the stock has a significant year-to-date decline of 46.67%. The company benefits from high management efficiency, a low debt-to-equity ratio, and healthy long-term growth in operating profit, which has grown at an annual rate of 29.93%. Conversely, the stock's valuation is considered expensive, with a price-to-book value of 8.4, and it has underperformed the market over the past year, generating a return of -16.23%.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has outperformed the Sensex, which has seen a slight decline of 0.27% over the past week. Despite the stock's positive short-term movements, it has faced challenges in terms of falling investor participation, with delivery volume decreasing by 62.34% against the five-day average. This decline in participation could indicate a lack of confidence among investors, despite the stock's strong institutional holdings at 28.6%. Overall, while the stock is currently rising, its long-term performance and valuation concerns may still weigh on investor sentiment.