Why is Bajaj Auto falling/rising?

As of 12-Aug, Bajaj Auto Ltd. is experiencing a decline in its stock price, currently at 8,195.70, which reflects a decrease of 64.3 points or 0.78%. The stock has underperformed its sector by 0.51% today and is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 40.8% compared to the 5-day average. Over the past year, Bajaj Auto has generated a return of -15.65%, which is notably worse than the broader market's negative return of -2.11%. Despite showing strong long-term fundamentals, including a solid average Return on Equity (ROE) of 21.03% and healthy growth in net sales and operating profit, the stock's recent performance has been hampered by negative results reported on June 25, where the operating profit to interest ratio was at its lowest.
In the broader market context, Bajaj Auto's short-term performance over the last week shows a decline of 0.42%, which is slightly better than the Sensex's drop of 0.59%. However, the stock's year-to-date performance is concerning, with a decline of 6.89% compared to the Sensex's gain of 2.68%. The company's high institutional holdings at 22.39% indicate a level of confidence among more knowledgeable investors, yet the stock's expensive valuation, trading at a premium to its peers, and a significant drop in profits over the past year contribute to its current downward trajectory. Overall, while Bajaj Auto has strong fundamentals, recent negative financial results and underperformance relative to the market have led to its declining stock price.