Why is Tata Elxsi falling/rising?

As of 29-Aug, Tata Elxsi Ltd. is experiencing a decline in its stock price, currently at Rs 5,232.50, which reflects a decrease of Rs 107.95 or 2.02%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 8.96% 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 results for the quarter ending June 25, with a significant drop in profit after tax and net sales, contributing to its recent poor performance. Despite having strong long-term fundamentals, including a high return on equity and low debt-to-equity ratio, the stock's valuation appears expensive compared to its peers, which may deter investors.
In the broader market context, Tata Elxsi's short-term performance has been notably worse than the benchmark, with a 1-week return of -6.21% compared to the Sensex's -1.84%. Over the past month, the stock has decreased by 14.12%, while the Sensex has only fallen by 1.88%. This consistent underperformance against the benchmark over the last three years, coupled with a year-to-date decline of 23.22% against a positive return of 2.14% for the Sensex, indicates a challenging environment for the stock. While there has been an increase in institutional holdings, which suggests some confidence in the company's fundamentals, the overall negative sentiment and recent financial results have led to a downward trend in the stock price.