Why is Bajel Projects falling/rising?

As of 17-Jun, Bajel Projects Ltd is experiencing a decline in its stock price, currently at Rs 212.10, which reflects a decrease of Rs 6.9 or 3.15%. The stock has underperformed its sector by 2.58% today and has been on a consecutive downward trend for the last four days, accumulating a total loss of 6.61% in that period. The stock's performance over the past week shows a decline of 6.15%, while it has seen a slight increase of 3.39% over the past month. However, its year-to-date performance is significantly negative at -22.53%, and it has underperformed the market over the last year with a return of -29.41%. Contributing to this downturn are factors such as poor management efficiency indicated by a low return on equity (ROE) of 2.38%, and a very expensive valuation with a price-to-book value of 4.2. Additionally, the company has shown flat results recently, with a significant drop in profit after tax compared to previous quarters.
Broader Market Context: In comparison to the benchmark, Bajel Projects has significantly lagged, with the BSE 500 generating a return of 2.77% over the last year, while Bajel has faced a substantial decline. The stock's recent performance is compounded by falling investor participation, as evidenced by a 20.76% drop in delivery volume against the five-day average. Despite the company having a low debt-to-equity ratio and healthy long-term growth in net sales and operating profit, these positive factors are overshadowed by the company's inefficiencies and poor profitability metrics, leading to a lack of investor confidence and contributing to the stock's current downward trajectory.