Why is Protean eGov falling/rising?

As of 12-Aug, Protean eGov Technologies Ltd is experiencing a decline in its stock price, currently at Rs. 719.80, which reflects a decrease of Rs. 3.2 or 0.44%. The stock has hit a new 52-week low of Rs. 716.5 today and has been on a downward trend, losing 6.98% over the past three days. In terms of performance, the stock has underperformed its sector by 0.72% and has shown significant negative returns over various periods, including a 62.13% decline over the past year and an 11.10% drop in the last month. The company has a low debt-to-equity ratio and high institutional holdings, which typically indicate stability; however, its poor long-term growth, with operating profit declining at an annual rate of 33.25% over the last five years, raises concerns among investors.
Broader market context shows that while the Sensex has only decreased by 0.59% over the past week, Protean eGov's 1-week return is significantly worse at -5.59%. This stark contrast highlights the stock's underperformance relative to the broader market. Additionally, the company's flat results in June, characterized by a low profit before tax and a high proportion of non-operating income, further contribute to investor skepticism. With a high PEG ratio of 4.1 and an expensive valuation compared to its peers, the stock's lack of growth and poor performance in both the short and long term have led to a negative sentiment among investors, resulting in the current decline in its stock price.