Why is Tata Elxsi falling/rising?

As of 05-Aug, Tata Elxsi Ltd. is experiencing a decline in its stock price, currently at 5,959.05, reflecting a decrease of 70.95 points or 1.18%. The stock has been underperforming, with a consecutive fall over the last four days, resulting in a total decline of 2.28%. In terms of returns, the stock has shown a negative performance of 2.19% over the past week and 3.95% over the past month, while it has underperformed against the benchmark Sensex during these periods. Despite having strong long-term fundamentals, including a high average Return on Equity (ROE) of 31.37% and low debt levels, the stock's recent performance has been negatively impacted by disappointing quarterly results, including a 21.6% fall in profit after tax and the lowest net sales recorded.
In the broader market context, Tata Elxsi's short-term performance has been notably weaker than the benchmark, with the Sensex declining only 0.77% over the past week and 3.26% over the past month. The stock's consistent underperformance against the benchmark over the last three years, coupled with a significant drop in profits over the past year, has contributed to a perception of it being an expensive investment despite its strong fundamentals. Additionally, while there has been a rise in investor participation, as indicated by a 24.11% increase in delivery volume, the overall market sentiment remains cautious due to the company's recent financial results and valuation concerns.