Why is Bajaj Auto falling/rising?

As of 01-Aug, Bajaj Auto Ltd. is currently priced at 8,040.40, reflecting an increase of 33.15 (0.41%). Despite this uptick, the stock has underperformed its sector by 0.66% today and is trading below its moving averages across various time frames. Over the past week, Bajaj Auto has seen a slight decline of 0.42%, and its performance over the last month shows a more significant drop of 4.24%. The stock has also faced a notable decrease in investor participation, with delivery volume falling by 31.89% against the five-day average. While the company boasts strong long-term fundamentals, including a healthy return on equity and low debt levels, it has experienced a year-over-year profit decline of 5%, contributing to its overall negative return of 17.40% in the past year.
In the broader market context, Bajaj Auto's recent performance contrasts with the Sensex, which has declined by 1.06% over the past week and 3.70% over the past month. The stock's significant underperformance relative to the market, particularly over the last year, where it fell 17.40% compared to the benchmark's -1.55%, indicates a challenging environment for the company. Although it has a strong market position and high institutional holdings, the flat results reported in March and the overall negative sentiment surrounding the stock suggest that investors remain cautious, impacting its price movement.