Why is Protean eGov falling/rising?

As of 11-Jul, Protean eGov Technologies Ltd is experiencing a decline in its stock price, currently at Rs 809.65, which represents a decrease of Rs 19.65 or 2.37%. The stock is trading close to its 52-week low, just 0.29% away from Rs 807.3, and has shown poor performance over various periods, with a 1-month return of -17.06% and a year-to-date return of -58.17%. The stock is trading below all its moving averages, indicating a bearish trend. Additionally, while there has been a significant increase in delivery volume, suggesting rising investor participation, the company's financial health is concerning, with a reported decline in operating profit and a high price-to-book value indicating an expensive valuation.
In the broader market context, the stock's short-term performance is notably worse than the benchmark, with a 1-week return of -4.19% compared to the Sensex's -1.12%. This underperformance is compounded by the company's flat results and negative growth in operating profit over the past five years, which has led to a lack of investor confidence. Despite having high institutional holdings, which typically indicate a level of trust in the company's fundamentals, the persistent decline in profits and overall poor long-term growth prospects have contributed to the stock's downward trajectory.