Why is Bajaj Electrical falling/rising?

As of 19-Aug, Bajaj Electricals Ltd is experiencing a price increase, currently at 593.65, reflecting a rise of 11.1 or 1.91%. The stock has shown a positive performance today, outperforming its sector by 0.44% and achieving a consecutive gain over the last two days with a total return of 5.44%. Despite a significant decline of 38.09% over the past year, the stock has recently seen a slight uptick, aided by rising investor participation, as indicated by a 3.48% increase in delivery volume compared to the 5-day average. The company's low debt-to-equity ratio and high institutional holdings suggest a level of stability, although its recent financial performance, including a substantial drop in profit, raises concerns.
Broader market context indicates that while Bajaj Electricals has gained 3.01% over the past week, the benchmark Sensex has only increased by 1.76% in the same timeframe. However, the stock's longer-term performance remains concerning, with a 12.05% decline over the past month and a staggering 51.63% drop over the last three years compared to the benchmark's 36.88% gain. This consistent underperformance against the broader market highlights the challenges the company faces, despite the recent short-term gains.