Why is Bajaj Steel Inds falling/rising?

As of 19-Aug, Bajaj Steel Industries Ltd is experiencing a price increase, currently at Rs 504.10, reflecting a rise of Rs 12.75 or 2.59%. Today's performance indicates a trend reversal as the stock has gained after four consecutive days of decline. It reached an intraday high of Rs 508.05, showcasing a 3.4% increase, although it also touched a low of Rs 481.15 earlier in the day. Despite the recent uptick, the stock has underperformed in the longer term, with a year-to-date decline of 40.45% compared to a 4.49% increase in the benchmark index. The company has a low debt-to-equity ratio and an attractive return on equity of 16.6%, but it has faced challenges with a significant drop in net sales and profits over the past quarters, which may contribute to mixed investor sentiment.
In the broader market context, while Bajaj Steel Industries has outperformed its sector by 2.87% today, its short-term performance over the past week shows a slight decline of 0.21%, contrasting with a 1.76% gain in the Sensex. The stock's liquidity appears adequate, with a notable increase in delivery volume, suggesting rising investor participation. However, the stock's trading below all major moving averages indicates ongoing bearish sentiment. The lack of domestic mutual fund investment may reflect caution among institutional investors regarding the company's long-term growth prospects, particularly given its recent negative financial results.