Why is Tata Elxsi falling/rising?

As of 04-Sep, Tata Elxsi Ltd. is currently priced at 5,427.80, reflecting a decrease of 0.75 or 0.01%. The stock has recently outperformed its sector by 0.79%, but it has also experienced a trend reversal after three consecutive days of gains. The stock's performance over the past week shows a return of +1.64%, while it has significantly underperformed over the past month with a return of -9.99%. Key negative factors include disappointing quarterly results, with a 21.6% decline in profit after tax and the lowest net sales recorded. Additionally, the stock's valuation appears expensive relative to its peers, with a Price to Book Value of 11.8, and it has consistently underperformed against the benchmark over the last three years.
In the broader market context, the Sensex has shown a modest gain of 0.80% over the past week, indicating that Tata Elxsi's short-term performance is relatively stronger than the benchmark. However, the stock's year-to-date return of -20.36% starkly contrasts with the Sensex's gain of 3.30%, highlighting its ongoing struggles. The decline in investor participation, evidenced by a 47.1% drop in delivery volume, suggests waning interest, which could further pressure the stock. Despite strong long-term fundamentals, including a high return on equity and low debt levels, the recent negative financial results and high valuation relative to peers contribute to the stock's downward movement.