Why is Newgen Software falling/rising?

As of 18-Sep, Newgen Software Technologies Ltd is experiencing a rise in its stock price, currently at 918.80, reflecting an increase of 33.85 or 3.83%. The stock has shown positive momentum, outperforming its sector by 3.13% today and has gained 3.97% over the last two days. Despite a significant year-to-date decline of 45.97%, the stock has performed well in the short term, with a weekly return of 3.66% compared to the Sensex's 1.80%. The company benefits from high management efficiency, a low debt-to-equity ratio, and strong institutional holdings, which contribute positively to investor sentiment. However, it faces challenges due to flat results in its latest quarterly report and a high valuation relative to its peers, which may temper enthusiasm.
Broader Market Context: In the context of the broader market, Newgen Software's recent performance contrasts with the benchmark, as it has underperformed significantly over the past year with a return of -24.15% compared to the Sensex's slight gain of 0.08%. While the stock has shown resilience in the short term, the long-term outlook remains cautious due to its substantial decline year-to-date and the overall market's more stable performance. The stock's recent gains may reflect a temporary rebound rather than a sustained recovery, especially considering its historical underperformance relative to the market.