Why is Tata Elxsi falling/rising?

As of 26-Aug, Tata Elxsi Ltd. is experiencing a decline in its stock price, currently at 5,477.85, reflecting a decrease of 72.35 points or 1.3%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 4.69% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company reported negative quarterly results, with a significant drop in profit after tax and net sales, contributing to its recent price movement. Despite strong long-term fundamentals, including a high return on equity and low debt-to-equity ratio, the stock's valuation appears expensive relative to its peers, which may deter investors.
In the broader market context, Tata Elxsi's performance has been notably weaker than the benchmark, with a 1-week return of -4.34% compared to the Sensex's -1.05%. Over the past year, the stock has generated a return of -29.01%, significantly underperforming the BSE500, which has seen a decline of only 1.12%. While there has been an increase in institutional holdings, indicating some confidence in the company's fundamentals, the consistent underperformance over the last three years and the recent negative financial results suggest that investor sentiment remains cautious.