Why is Bajaj Steel Inds falling/rising?

As of 20-Oct, Bajaj Steel Industries Ltd is experiencing a price increase, currently at Rs 596.95, which reflects a rise of Rs 36.6 or 6.53%. The stock has shown strong performance today, outperforming its sector by 6.23% and achieving a consecutive gain over the last two days with a total return of 15.15%. It reached an intraday high of Rs 615.8, indicating significant investor interest. Despite this positive movement, the stock has underperformed over the past year with a return of -27.64%, while profits have declined by -12.8%. The company maintains a low debt-to-equity ratio and an attractive valuation with a return on equity (ROE) of 16.6, but it has faced challenges with declining net sales and negative results in recent quarters, which may contribute to mixed investor sentiment.
In the broader market context, Bajaj Steel Industries Ltd has outperformed the benchmark Sensex in the short term, with a one-week return of +12.18% compared to the Sensex's +2.47%. However, the stock's year-to-date performance remains concerning, showing a decline of -29.48% against the Sensex's gain of +7.97%. The significant rise in delivery volume and liquidity suggests increasing investor participation, which may be a positive sign for future performance. Nonetheless, the lack of domestic mutual fund investment indicates potential caution among institutional investors regarding the company's long-term growth prospects.