Why is Bajaj Steel Inds falling/rising?

As of 24-Sep, Bajaj Steel Industries Ltd is experiencing a decline in its stock price, currently at Rs 586.95, which reflects a decrease of Rs 15.65 or 2.6%. The stock has underperformed its sector by 1.39% today and has fallen after two consecutive days of gains. It reached an intraday low of Rs 559, marking a significant drop of 7.24%. Over the past week, the stock has decreased by 1.22%, while it has shown a strong performance over the past month with a return of 21.88%. However, the stock's year-to-date performance is concerning, with a decline of 30.66%. The company has a low Debt to Equity ratio and an attractive valuation with a Price to Book Value of 3.2, but it has faced negative results in recent quarters, including a 51.6% fall in PAT and a 23.74% drop in net sales.
In the broader market context, the Sensex has also seen a slight decline of 1.18% over the past week, indicating that the stock's short-term performance is in line with the overall market trend. Despite the stock's strong long-term performance with a 276.01% increase over three years, the recent negative results and declining sales have raised concerns among investors, reflected in the low participation from domestic mutual funds. This lack of confidence may contribute to the stock's current downward movement, as investors react to the company's poor long-term growth prospects and recent financial performance.