Why is Tata Elxsi falling/rising?

As of 17-Sep, Tata Elxsi Ltd. is experiencing a decline in its stock price, currently at 5,682.45, reflecting a decrease of 22.5 points or 0.39%. The stock has underperformed its sector by 1.04% today, and its delivery volume has significantly decreased by 45.16% compared to the 5-day average, indicating falling investor participation. Over the past week, the stock has dropped by 2.76%, while it has shown a marginal increase of 0.06% over the past month. However, it has faced substantial declines year-to-date and over the past year, with returns of -16.62% and -26.26%, respectively. Despite strong long-term fundamentals, including a high average Return on Equity (ROE) of 31.37% and low debt levels, the company's recent negative quarterly results, including a 21.6% drop in profit after tax and the lowest net sales recorded, have contributed to its current price movement.
In the broader market context, Tata Elxsi's performance has lagged behind the benchmark Sensex, which has gained 1.56% over the past week and 2.60% over the past month. The stock has consistently underperformed against the benchmark over the last three years, with a significant decline of 34.88% compared to the Sensex's 40.54% increase during the same period. This consistent underperformance, coupled with a high valuation indicated by a Price to Book Value of 12.4, suggests that the stock may be perceived as expensive relative to its peers, further impacting investor sentiment negatively.