Why is Bajaj Electrical falling/rising?

As of 04-Jul, Bajaj Electricals Ltd is experiencing a price increase, currently at Rs 690.30, reflecting a change of 3.6 (0.52%) upward. The stock has shown a consecutive gain over the last two days, rising 3.34% during this period. Despite this positive short-term performance, it has underperformed its sector by 0.75%. The stock's recent returns indicate a 0.83% increase over the past week and a 5.26% increase over the past month, although it has significantly underperformed over the longer term, with a year-to-date decline of 10.93% and a one-year drop of 37.19%. Positive factors contributing to the stock's recent movement include a low debt-to-equity ratio, high institutional holdings at 23.59%, and impressive growth in profit before tax and inventory turnover ratio. However, the stock faces challenges due to poor long-term growth, an expensive valuation compared to peers, and consistent underperformance against the benchmark over the last three years.
In the broader market context, Bajaj Electricals' short-term performance has been relatively better than the benchmark, with a 1-week return of 0.83% compared to the Sensex's decline of 0.74%. However, the stock's year-to-date performance of -10.93% contrasts sharply with the Sensex's gain of 6.77%, indicating a significant divergence in performance over a longer timeframe. This underperformance against the benchmark, coupled with a negative trend in net sales growth and declining profits, suggests that while there may be short-term gains, the overall outlook remains cautious due to the company's historical challenges.