Why is Tata Elxsi falling/rising?

As of 20-Aug, Tata Elxsi Ltd. is currently priced at 5,747.25, reflecting an increase of 21.15 points or 0.37%. The stock has been gaining for the last three days, with a total return of 1.21% during this period. However, it has underperformed its sector by 2.06% today. Over the past week, the stock has shown a modest gain of 1.05%, but it has significantly lagged behind the benchmark, with a year-to-date return of -15.67% compared to the Sensex's 4.76%. The company has strong long-term fundamentals, including a high average Return on Equity (ROE) of 31.37% and low debt levels, which may support investor confidence. However, negative quarterly results, including a 21.6% drop in profit after tax and the lowest net sales recorded, have contributed to its overall underperformance.
In the broader market context, while the stock has gained slightly in the short term, it has consistently underperformed against the benchmark over the last three years, with a return of -16.91% compared to the Sensex's 1.31% over the past year. The IT sector, to which Tata Elxsi belongs, has seen a gain of 2.37%, indicating a favorable environment for sector stocks, yet Tata Elxsi's performance remains disappointing. The decline in investor participation, evidenced by a 17.01% drop in delivery volume, further highlights the challenges the stock faces despite its strong institutional holdings, which have increased by 1.27% in the previous quarter.