Why is Bajaj Steel Inds falling/rising?

As of 26-Aug, Bajaj Steel Industries Ltd is experiencing a price increase, currently at 513.00, reflecting a rise of 42.0 or 8.92%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and has outperformed its sector by 11.55%. It reached an intraday high of Rs 520, indicating strong trading activity, despite the stock's recent performance over the past month showing a decline of 12.18%. The company has a low debt-to-equity ratio and an attractive valuation with a return on equity of 16.6, although it has faced challenges with a significant drop in net sales and profits over the last two quarters.
In the broader market context, the stock's short-term performance contrasts with the Sensex, which has declined by 1.05% over the past week, while Bajaj Steel has gained 1.77%. This suggests that the stock is gaining traction despite broader market challenges, particularly in the textile machinery sector, which has fallen by 2.85%. The rising investor participation, indicated by a substantial increase in delivery volume, further supports the stock's upward movement, even as the company has struggled with long-term growth metrics and low domestic mutual fund interest.