Why is Protean eGov falling/rising?

As of 01-Aug, Protean eGov Technologies Ltd's stock price is currently at 783.95, reflecting a decrease of 1.35, or 0.17%. The stock has been underperforming, with a consecutive decline over the last three days resulting in a total drop of 2.63%. It is also trading close to its 52-week low, just 0.47% away from Rs 780.3. The stock has experienced significant losses over the past month, down 10.06%, and a staggering 59.50% year-to-date. Additionally, the company has shown poor long-term growth, with an annual operating profit decline of 14.79% over the last five years, and its recent financial results indicate a drop in profit before tax and profit after tax compared to previous quarters. The high institutional holdings at 33.53% suggest that knowledgeable investors are also cautious about the stock's prospects.
In the broader market context, the stock's recent performance has been worse than the benchmark, with a 1-week return of -1.61% compared to the Sensex's -1.06%. This underperformance is compounded by a significant decline in investor participation, with delivery volume falling by 28.4% against the 5-day average. The stock's liquidity remains adequate for trading, but the overall sentiment appears negative due to its poor financial performance and high valuation metrics, such as a price-to-book value of 3.4. The combination of these factors indicates a challenging environment for Protean eGov Technologies Ltd, contributing to its declining stock price.