Why is Protean eGov falling/rising?

As of 18-Jul, Protean eGov Technologies Ltd is experiencing a decline in its stock price, currently at Rs 797.10, which reflects a decrease of Rs 5.15 or 0.64%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 2.57% during this period. Additionally, it is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The stock is also close to its 52-week low, just 1.46% away from Rs 785.5. Over the past month, it has seen a significant drop of 13.04%, while its year-to-date performance shows a staggering decline of 58.82%. The company has a low debt-to-equity ratio and high institutional holdings at 38.7%, but these factors have not mitigated the impact of poor long-term growth, as evidenced by a -14.79% annual decline in operating profit over the last five years.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has shown a slight increase of 0.38% over the past month. While the Sensex has gained 4.63% year-to-date, Protean eGov's substantial losses highlight its struggles relative to the market. The company's recent financial results have been disappointing, with a significant drop in profit before tax and net profit compared to previous quarters, further contributing to investor concerns. This underperformance, coupled with a high price-to-book ratio and a return on equity of only 8.8%, suggests that the stock is considered overvalued, leading to a lack of investor confidence and further declines in its price.