Why is Protean eGov falling/rising?

As of 14-Jul, Protean eGov Technologies Ltd is experiencing a decline in its stock price, currently at Rs. 790.20, which reflects a decrease of Rs. 19.45 or 2.4%. The stock has recently hit a new 52-week low of Rs. 785.5 and has underperformed its sector by 1.37%. Over the past week, the stock has fallen by 4.65%, and its year-to-date performance shows a significant decline of 59.17%. The company has a low Debt to Equity ratio and high institutional holdings at 38.7%, indicating some level of confidence from larger investors. However, the stock's long-term growth prospects are poor, with an annual operating profit decline of 14.79% over the last five years and a return on equity of only 8.8%, leading to a high price-to-book value of 3.4.
In the broader market context, while the Sensex has shown a slight increase of 5.27% year-to-date, Protean eGov's performance has been significantly worse, with a 59.17% decline in the same period. The stock's recent performance has been characterized by consecutive falls over the last two days, and it is trading below all major moving averages, indicating a bearish trend. Despite a rise in investor participation, the overall sentiment remains negative due to the company's flat results and declining profits, which have contributed to its underperformance compared to the broader market and its sector.