Why is Protean eGov falling/rising?

As of 25-Jul, Protean eGov Technologies Ltd is experiencing a decline in its stock price, currently at Rs 796.80, which reflects a decrease of Rs 13.9 or 1.71%. The stock has been underperforming recently, with a consecutive fall over the last two days, resulting in a total decline of 4.17%. It is also trading close to its 52-week low, just 2.07% away from Rs 780.3. The stock's performance over various periods shows significant underperformance, with a year-to-date return of -58.83% compared to a positive 4.25% for the benchmark Sensex. Additionally, the stock is trading below all its moving averages, indicating a bearish trend. The delivery volume has decreased significantly, falling by 40.07% against the 5-day average, suggesting a decline in investor participation.
In the broader market context, the stock's short-term performance is slightly better than the benchmark, with a 1-week return of -0.04% compared to the Sensex's -0.36%. However, the overall sentiment remains negative due to poor long-term growth prospects, as indicated by an annual operating profit decline of 14.79% over the last five years. The recent financial results have also shown a decline in profit before tax and profit after tax, further contributing to the stock's negative outlook. Despite having a relatively low debt-to-equity ratio and high institutional holdings at 38.7%, the stock's expensive valuation and poor returns over the past year have led to a lack of confidence among investors, resulting in the current downward price movement.