Why is Bajaj Electrical falling/rising?

As of 16-Sep, Bajaj Electricals Ltd is experiencing a price increase, currently at Rs 593.30, reflecting a rise of Rs 6.1 or 1.04%. The stock has shown positive performance today, outperforming its sector by 0.81% and reaching an intraday high of Rs 600, which is a 2.18% increase. Over the past week, the stock has gained 4.39%, while its one-month return stands at 4.75%. However, despite these short-term gains, the stock has significantly underperformed over the longer term, with a year-to-date decline of 23.45% and a staggering 40.06% drop over the past year. The company maintains a low debt-to-equity ratio of 0.04, and its high institutional holdings at 23.46% suggest confidence among informed investors, although its recent financial performance has been concerning, with a 26.1% decline in profits over the past year.
In the broader market context, Bajaj Electricals' short-term performance has outpaced the Sensex, which has increased by 1.58% over the past week and 2.21% over the past month. However, the stock's long-term returns are starkly negative compared to the benchmark, with a 40.01% underperformance against the Sensex over the last three years. This consistent underperformance, coupled with declining operating cash flow and significant drops in profit before tax and profit after tax, raises concerns about the company's financial health. Despite the recent uptick in price, the overall trend indicates that investors remain cautious due to the stock's historical volatility and underperformance relative to the market.