Why is Tata Elxsi falling/rising?

As of 18-Sep, Tata Elxsi Ltd. has experienced a price increase, currently trading at 5,731.15, reflecting a rise of 48.7 points or 0.86%. Today's price summary indicates that the stock is performing in line with its sector, although it is higher than the 20-day moving averages but lower than the 5-day, 50-day, 100-day, and 200-day moving averages. Despite this positive movement, the stock has shown a negative return of -0.47% over the past week and a significant decline of -15.90% year-to-date. The company has strong long-term fundamentals, with an average Return on Equity (ROE) of 31.37% and a low Debt to Equity ratio, which may support investor confidence. However, negative quarterly results, including a -21.6% drop in profit after tax and the lowest net sales recorded, contribute to a perception of the stock as expensive with a Price to Book Value of 12.5, leading to concerns about its valuation.
In the broader market context, Tata Elxsi's recent performance contrasts with the benchmark Sensex, which has gained 1.80% over the past week and 6.24% year-to-date. The stock's underperformance is evident, as it has consistently lagged behind the benchmark over the last three years, with a -25.00% return in the past year compared to the Sensex's minimal gain. Additionally, a notable decline in investor participation, with delivery volume falling by -28.99% against the 5-day average, suggests a lack of confidence among retail investors, despite high institutional holdings increasing by 1.27% in the previous quarter. This combination of factors indicates that while there may be short-term gains, the overall sentiment remains cautious due to the company's recent financial performance and historical underperformance against the market.