Why is Bajaj Electrical falling/rising?

As of 11-Sep, Bajaj Electricals Ltd is currently priced at 587.20, reflecting an increase of 3.6 (0.62%). The stock has shown positive momentum, gaining 3.93% over the last three days and outperforming its sector by 0.72% today. It opened with a gain of 2.46% and reached an intraday high of Rs 597.95. Despite these short-term gains, the stock has underperformed significantly over the past year, with a return of -40.69% and a decline in profits by -26.1%. The company maintains a low debt-to-equity ratio and high institutional holdings at 23.46%, which may provide some stability, but the recent financial performance, including a substantial drop in profit before tax, raises concerns about its long-term viability.
In the broader market context, Bajaj Electricals has outperformed the Sensex in the short term, with a 1-week return of +2.30% compared to the benchmark's +1.03%. However, the stock's year-to-date performance is concerning, showing a decline of -24.23% against the Sensex's +4.36%. This consistent underperformance over the past three years, coupled with the significant drop in operating cash flow and profit after tax, suggests that while there may be short-term gains, the overall outlook remains negative, indicating potential challenges ahead for the company.