Why is Bajel Projects falling/rising?

As of 01-Jul, Bajel Projects Ltd is experiencing a decline in its stock price, currently at 235.05, reflecting a decrease of 3.6 or 1.51%. The stock has underperformed its sector today by 0.82% and has been on a consecutive downward trend for the last two days, resulting in a total drop of 4.66%. Despite a recent positive performance over the past week and month, with returns of 6.72% and 10.92% respectively, the stock has significantly underperformed on a year-to-date basis, down 14.15%. Factors contributing to this decline include poor management efficiency indicated by a low return on equity of 2.38%, flat quarterly results, and a high price-to-book value ratio of 4.7, suggesting an expensive valuation relative to its earnings growth.
Broader market context shows that while Bajel Projects has seen some short-term gains, it has consistently underperformed against the benchmark, with a one-year return of -21.79% compared to a 7.11% gain in the Sensex. This consistent underperformance over the last three years further highlights the challenges faced by the company, despite some positive indicators such as rising investor participation and healthy long-term growth in net sales and operating profit. The overall market sentiment appears to be cautious, reflecting the stock's struggles to maintain investor confidence amidst its financial inefficiencies and valuation concerns.