Why is Bajaj Electrical falling/rising?

As of 01-Sep, Bajaj Electricals Ltd is currently priced at 571.35, reflecting an increase of 2.35 (0.41%). Despite this slight uptick, the stock has been underperforming, with a performance today that is 0.61% lower than its sector. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past week, the stock has declined by 2.83%, and it has experienced a significant drop of 40.85% over the past year, alongside a 26.28% decline year-to-date. The company's low Debt to Equity ratio of 0.04 times and a return on equity (ROE) of 6.7 suggest a fair valuation, but the stock is trading at a discount compared to its peers. Additionally, high institutional holdings at 23.46% may indicate confidence from larger investors, yet the company's operating cash flow and profit before tax have seen substantial declines, contributing to negative sentiment.
Broader market context shows that while Bajaj Electricals has struggled, the benchmark Sensex has shown a slight increase of 2.85% year-to-date. The stock's performance has consistently lagged behind the benchmark, with a notable underperformance over the last three years, generating returns that are significantly lower than the BSE500 in each of the last three annual periods. This persistent underperformance, combined with falling investor participation and a sharp decline in profits, paints a concerning picture for the stock's future, despite its recent minor price increase.