Why is Tata Elxsi falling/rising?

As of 19-Sep, Tata Elxsi Ltd. is experiencing a slight decline in its stock price, currently at 5,726.40, reflecting a change of -4.75 (-0.08%). Today's performance indicates that the stock has outperformed its sector by 0.32%, although it is trading higher than its 5-day and 20-day moving averages, yet lower than its 50-day, 100-day, and 200-day moving averages. The stock has shown a significant underperformance over the past year, with a return of -23.85%, and has consistently lagged behind the benchmark indices over the last three years. While the company boasts strong long-term fundamentals, including a high average Return on Equity (ROE) of 31.37% and low debt levels, it has faced negative results recently, including a 21.6% decline in profit after tax and the lowest net sales recorded.
In the broader market context, Tata Elxsi's short-term return of +0.13% over the past week is notably lower than the Sensex's return of +0.88% during the same period. This trend of underperformance is echoed in the one-month returns, where Tata Elxsi has only gained +0.01% compared to the Sensex's +1.20%. The stock's valuation appears expensive with a Price to Book Value of 12.4, and despite high institutional holdings that have increased by 1.27%, the overall sentiment remains cautious due to the company's recent financial results and its historical underperformance against the benchmark.