Why is Tata Elxsi falling/rising?

As of 22-Aug, Tata Elxsi Ltd. is experiencing a decline in its stock price, currently at 5,579.25, reflecting a decrease of 78.0 points or 1.38%. The stock has underperformed its sector by 0.37% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 2.92% during this period. Over the past week, Tata Elxsi has seen a return of -1.75%, and its performance over the last month shows a significant decline of 10.10%. The company has strong long-term fundamentals, indicated by an average Return on Equity (ROE) of 31.37% and a low Debt to Equity ratio. However, negative results reported for June, including a low interest coverage ratio and increased raw material costs, have contributed to its recent price decline. Additionally, the stock's valuation appears expensive with a Price to Book Value of 12.2, and it has consistently underperformed against benchmarks over the past three years.
In the broader market context, while Tata Elxsi's stock has fallen by 18.13% year-to-date, the Sensex has gained 4.05% in the same period, highlighting a significant underperformance relative to the market. The stock's recent performance contrasts sharply with the benchmark, which has shown resilience, particularly over the last year where Tata Elxsi has generated a return of -19.81% compared to the Sensex's modest gain of 0.31%. This disparity in performance suggests that investor sentiment towards Tata Elxsi is currently negative, influenced by its recent financial results and ongoing challenges, despite some positive indicators such as rising institutional holdings and increased trading volume.