Why is Newgen Software falling/rising?

As of 19-Sep, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at 916.00, which reflects a decrease of 2.8 or 0.3%. The stock has shown a trend reversal, falling after two consecutive days of gains. Despite this recent drop, the stock has performed positively over the past week and month, with returns of 3.25% and 4.33%, respectively. However, it has significantly underperformed year-to-date with a decline of 46.13%. The stock's moving averages indicate that it is currently higher than the 5-day and 20-day averages but lower than the longer-term 50-day, 100-day, and 200-day averages. Positive factors include high management efficiency with a return on equity (ROE) of 19.71%, a low debt-to-equity ratio, and healthy long-term growth in operating profit. However, negative factors such as flat results in the latest quarter, a high price-to-book value indicating expensive valuation, and underperformance compared to the broader market have contributed to the stock's recent price movement.
In the broader market context, Newgen Software's short-term performance has outpaced the benchmark Sensex, which has returned 0.88% over the past week. However, the stock's year-to-date decline of 46.13% starkly contrasts with the Sensex's positive return of 5.74% during the same period. This significant underperformance suggests that while the stock may have attracted rising investor participation recently, the overall sentiment remains cautious due to its high valuation and disappointing quarterly results. The high institutional holdings indicate that more sophisticated investors are involved, but the stock's recent price action reflects a lack of confidence in its ability to sustain growth amidst these challenges.