Why is Bajaj Electrical falling/rising?

As of 10-Sep, Bajaj Electricals Ltd is experiencing a price increase, currently at Rs 583.60, reflecting a rise of Rs 15.25 or 2.68%. The stock has shown a positive performance today, outperforming its sector by 2.27% and achieving consecutive gains over the last two days with a total return of 3.29%. Despite this short-term uptick, the stock has underperformed over the longer term, with a year-to-date decline of 24.70% and a staggering 40.89% drop over the past year. The company has a low Debt to Equity ratio of 0.04, indicating financial stability, but its profits have decreased by 26.1%, contributing to the stock's overall negative performance. High institutional holdings at 23.46% suggest that informed investors are backing the stock, yet the significant drop in operating cash flow and profit before tax raises concerns about its financial health.
In the broader market context, Bajaj Electricals has outperformed the Sensex by 1.81% over the past week, while the benchmark has gained 1.06%. However, the stock's longer-term performance remains concerning, with a 51.52% decline over the past three years compared to a 36.18% increase in the Sensex. This consistent underperformance against the benchmark, coupled with falling investor participation and liquidity issues, indicates that while there may be short-term gains, the overall outlook for Bajaj Electricals remains weak in the context of the broader market trends.