Why is Tata Elxsi falling/rising?

As of 12-Sep, Tata Elxsi Ltd. is experiencing a decline in its stock price, currently at 5,719.00, which reflects a decrease of -39.35 (-0.68%). The stock has underperformed its sector by -0.95% today and has been on a consecutive fall for the last two days, resulting in a total drop of -2.2% during this period. Although the stock has shown a positive return of +4.43% over the past week and +1.85% over the past month, it has significantly underperformed on a year-to-date basis with a return of -16.08%. The company has reported strong long-term fundamentals, including an average Return on Equity (ROE) of 31.37% and a low Debt to Equity ratio, but recent negative results, including a -21.6% fall in PAT and the lowest net sales recorded, have contributed to the stock's decline.
In the broader market context, Tata Elxsi's performance has been notably weaker compared to the benchmark, with a -26.66% return over the past year, while the Sensex has only declined by -1.28%. The stock's consistent underperformance against the benchmark over the last three years, coupled with a high valuation indicated by a Price to Book Value of 12.5, suggests that investor sentiment may be cautious. Additionally, a decrease in delivery volume by -31.69% against the five-day average indicates falling investor participation, which could further pressure the stock price. Despite high institutional holdings, which have increased by 1.27% over the previous quarter, the overall market sentiment appears to be weighing down on Tata Elxsi's stock.