Why is Bajaj Steel Inds falling/rising?

As of 25-Aug, Bajaj Steel Industries Ltd is experiencing a decline in its stock price, currently at Rs 471.00, which reflects a decrease of Rs 10.6 or 2.2%. The stock has hit a new 52-week low of Rs 451.45 today and has underperformed its sector by 2.04%. Over the past week, it has fallen by 4.14%, and its year-to-date performance shows a significant decline of 44.36%. The company has reported negative results for the last two consecutive quarters, with a notable drop in net sales of 23.74%, contributing to a negative sentiment around the stock. Despite having a low debt-to-equity ratio and an attractive valuation with a return on equity of 16.6, the stock's performance has been hindered by a 12.8% decline in profits over the past year.
In the broader market context, while the Sensex has shown a slight increase of 0.45% over the past week, Bajaj Steel Industries Ltd has significantly lagged behind, indicating a lack of investor confidence compared to the overall market. The stock's performance has been poor relative to the benchmark, with a year-to-date return of -44.36% against the Sensex's positive return of 4.48%. The rising investor participation, as indicated by a 264.93% increase in delivery volume, suggests some interest, but the overall liquidity and trading below key moving averages indicate a challenging environment for the stock. The lack of domestic mutual fund investment further underscores the cautious outlook on the company's future growth prospects.