Why is Bajaj Electrical falling/rising?

As of 30-Jun, Bajaj Electricals Ltd is currently priced at 689.75, reflecting an increase of 5.1 (0.74%). The stock has been gaining for the last two days, with a total return of 1.37% during this period. It has outperformed its sector by 0.61% today. Despite this short-term positive movement, the stock has shown a year-to-date decline of 11.00% and a significant drop of 34.80% over the past year, indicating poor long-term growth. The company has a low debt-to-equity ratio of 0.04, which is a positive factor, alongside strong recent performance metrics such as a 1593.47% growth in profit before tax. However, the stock's expensive valuation, with a price-to-book value of 4.6, and a return on equity of 6.7, suggest that it is trading at a premium compared to its peers, which may deter some investors.
In the broader market context, Bajaj Electricals has outperformed the Sensex in the short term, with a 1-week return of 2.85% compared to the benchmark's 2.09%. However, the stock has significantly underperformed over longer periods, particularly in the last year where it has generated negative returns of -34.80%, while the broader market (BSE 500) has returned 3.95%. This stark contrast highlights the challenges faced by Bajaj Electricals in maintaining investor confidence, especially given the falling investor participation and declining net sales growth over the past five years.