Why is Bajaj Auto falling/rising?

As of 06-Aug, Bajaj Auto Ltd. is experiencing a decline in its stock price, currently at 8,177.05, reflecting a decrease of 53.05 points or 0.64%. Today's price summary indicates that the stock has underperformed its sector by 0.26% and has reversed its trend after three consecutive days of gains. Additionally, the stock's performance over the past week shows a modest increase of 1.53%, but it has underperformed in the longer term, with a year-to-date decline of 7.10% and a one-year drop of 13.12%. The company has strong long-term fundamentals, including a healthy average return on equity of 21.99% and significant institutional holdings at 22.39%. However, negative results reported on June 25, including the lowest operating profit to interest ratio and a high interest expense, have contributed to its expensive valuation, which may deter investors.
In the broader market context, Bajaj Auto's recent performance contrasts with the benchmark Sensex, which has shown a decline of 1.15% over the past week and a positive return of 3.08% year-to-date. While the stock has outperformed the benchmark in the short term, its longer-term performance has been disappointing, particularly given the overall market's positive returns in the last year. This underperformance, coupled with falling investor participation and a premium valuation compared to peers, suggests that investor sentiment may be shifting negatively, impacting the stock's price movement.