Why is Tata Elxsi falling/rising?

As of 30-Sep, Tata Elxsi Ltd. is experiencing a decline in its stock price, currently at 5,227.05, reflecting a decrease of 73.6 points or 1.39%. The stock has been underperforming, having lost 8.8% over the last eight days, and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock's performance over the past week shows a decline of 5.92%, while its year-to-date return is down by 23.30%. The company has reported negative financial results, including a significant drop in profit after tax and net sales, which has contributed to its recent price movement. Despite strong long-term fundamentals, such as a high return on equity and low debt levels, the stock's valuation appears expensive compared to its peers, further impacting investor sentiment.
In the broader market context, Tata Elxsi's recent performance has been notably weaker than the benchmark Sensex, which has shown a slight gain of 2.72% year-to-date. The stock's consistent underperformance over the last three years, coupled with a significant decline of 32.34% in the past year, highlights a troubling trend that contrasts sharply with the benchmark's performance. The falling investor participation, indicated by a 21.22% drop in delivery volume, suggests a lack of confidence among traders, which may be exacerbating the stock's downward trajectory. Overall, these factors indicate a challenging environment for Tata Elxsi, leading to its current price decline.