Why is Bajaj Steel Inds falling/rising?

As of 11-Aug, Bajaj Steel Industries Ltd is currently priced at 513.70, reflecting an increase of 3.9 (0.77%). The stock has shown a trend reversal, gaining after four consecutive days of decline. However, it is still trading below all key moving averages, indicating a bearish trend overall. In the past week, the stock has underperformed significantly, with a return of -11.92%, while the benchmark Sensex has only declined by -0.51%. Additionally, the stock has experienced a substantial drop in investor participation, with delivery volume falling by -52.64% against the five-day average. Despite a low debt-to-equity ratio and an attractive return on equity (ROE) of 16.6, the stock's valuation remains high compared to its peers, and it has faced negative financial results, including a -12.8% decline in profits over the past year.
In the broader market context, Bajaj Steel Industries Ltd's recent performance contrasts sharply with the benchmark, as it has significantly underperformed over the past month with a return of -22.95% compared to the Sensex's -2.30%. The company's long-term growth prospects appear poor, with net sales declining by -23.74% and negative results reported for the last two consecutive quarters. This has led to a lack of confidence among domestic mutual funds, which hold no stake in the company, suggesting that they may not be comfortable with the current valuation or business outlook. Overall, while the stock has seen a slight uptick today, the underlying fundamentals and market sentiment indicate ongoing challenges for Bajaj Steel Industries Ltd.