Why is Newgen Software falling/rising?

As of 05-Sep, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at 886.40, reflecting a decrease of 13.55 points or 1.51%. The stock has underperformed its sector by 0.3% today and has been on a downward trend for the last two days, with a total decline of 2.25% during this period. Additionally, the stock has shown a negative performance over the past month, down 5.67%, and a significant year-to-date drop of 47.87%. Despite high management efficiency indicated by a return on equity (ROE) of 19.71% and a low debt-to-equity ratio, the company has faced challenges such as flat results in its latest quarterly report, which has contributed to its expensive valuation relative to peers.
Broader market context shows that while the Sensex has gained 1.13% over the past week, Newgen Software's performance has lagged, indicating a disconnect between the stock and broader market trends. Over the past year, the stock has underperformed significantly, with a decline of 18.11% compared to the market's negative return of 1.81%. This underperformance, coupled with a high price-to-book value and a PEG ratio of 2.4, suggests that investors may be cautious about the stock's valuation amid its recent financial results. The rising investor participation, as indicated by an increase in delivery volume, may not be sufficient to counteract the negative sentiment stemming from its recent performance and valuation concerns.