Why is Protean eGov falling/rising?

As of 03-Jul, Protean eGov Technologies Ltd is experiencing a decline in its stock price, currently at Rs. 844.30, which reflects a decrease of Rs. 9.2 or 1.08%. The stock has hit a new 52-week low of Rs. 841.65 today and has underperformed its sector by 0.88%. It has been on a downward trend for the last three days, accumulating a total decline of 3.88%. Over the past week, the stock has decreased by 1.55%, and its performance over the last month shows a significant drop of 11.13%. The company has a low Debt to Equity ratio and high institutional holdings at 38.7%, but it faces challenges with poor long-term growth, as evidenced by a -14.79% annual decline in operating profit over the last five years and a return on equity of only 8.8%.
In the broader market context, the stock's recent performance contrasts sharply with the Sensex, which has increased by 3.10% over the past month. This indicates that while the overall market is experiencing growth, Protean eGov is struggling significantly, with a year-to-date decline of 56.38% compared to the Sensex's gain of 6.53%. The company's flat results in March 2025, including a -33.2% drop in profit before tax compared to the previous four-quarter average, further contribute to investor concerns. The stock's valuation appears expensive with a price-to-book ratio of 3.6, and its profits have fallen by 6% over the past year, leading to a lack of investor confidence and participation.