Why is Tata Elxsi falling/rising?

As of 15-Sep, Tata Elxsi Ltd. is experiencing a decline in its stock price, currently at 5,680.00, which reflects a decrease of 39.0 points or 0.68%. The stock has been underperforming recently, with a consecutive fall over the last three days resulting in a total drop of 2.8%. While the stock has shown a positive return of 3.83% over the past week, it has significantly underperformed over the longer term, with a year-to-date decline of 16.65% and a one-year drop of 26.36%. The company has reported negative financial results, including a 21.6% decrease in profit after tax and the lowest net sales recorded, which has contributed to its recent price movement. Despite strong long-term fundamentals, including a high return on equity and low debt levels, the stock's expensive valuation and consistent underperformance against benchmarks have raised concerns among investors.
In the broader market context, Tata Elxsi's recent performance contrasts with the Sensex, which has gained 1.24% over the past week and 4.67% year-to-date. This indicates that while the stock has shown some short-term resilience, it is still lagging behind the overall market. The falling investor participation, as evidenced by a 14.29% drop in delivery volume, further suggests a lack of confidence among traders. Additionally, the stock's high institutional holdings may provide some stability, but the recent negative financial results and valuation concerns are likely overshadowing these factors, leading to its current downward trend.