Why is Protean eGov falling/rising?

As of 13-Oct, Protean eGov Technologies Ltd is experiencing a decline in its stock price, currently at 853.15, which reflects a decrease of 15.45 or 1.78%. The stock has underperformed its sector today by 1.03%, with an intraday low of Rs 849, marking a drop of 2.26%. Over the past week, the stock has fallen by 3.36%, and it has seen a significant year-to-date decline of 55.92%. The company has a low debt-to-equity ratio, which is favorable, and high institutional holdings at 33.53% suggest some level of confidence among more sophisticated investors. However, the company has reported poor long-term growth, with an annual operating profit decline of 33.25% over the last five years, and its recent financial results have shown flat performance.
Broader market context indicates that while the Sensex has gained 0.66% over the past week, Protean eGov's performance has been notably weaker, reflecting a broader trend of underperformance against the market. The stock's return over the last year is a stark -55.87%, significantly worse than the BSE500's negative return of -1.73%. This disparity highlights the challenges faced by Protean eGov, including a high price-to-book value ratio and a PEG ratio of 5, indicating that the stock is trading at a premium compared to its peers. The combination of these factors contributes to the stock's downward movement, as investors remain cautious amid poor growth prospects and high valuations.