Why is Bajel Projects falling/rising?

As of 11-Aug, Bajel Projects Ltd is experiencing a decline in its stock price, currently at Rs 223.85, reflecting a decrease of Rs 10.15 or 4.34%. The stock has been underperforming, having fallen consecutively for the last three days with a total decline of 8.31% during this period. It opened with a loss of 4.34% today and touched an intraday low of Rs 223.85. Over the past week, the stock has decreased by 5.77%, and it has shown a significant year-to-date decline of 18.24%, contrasting sharply with the Sensex, which has gained 3.15% over the same period. The company has a low Debt to Equity ratio, indicating a manageable level of debt, and has seen healthy long-term growth in net sales and operating profit. However, it suffers from poor management efficiency, as evidenced by a low return on equity (ROE) of 2.40%, and has reported negative quarterly results, which have contributed to its recent price decline.
Broader Market Context: In the context of the broader market, Bajel Projects has significantly underperformed against the benchmark, with a one-year return of -20.51% compared to the Sensex's gain of 1.13%. This consistent underperformance over the last three years has raised concerns among investors, leading to a decrease in investor participation, as indicated by a 38.7% drop in delivery volume. While there has been an increase in institutional investor participation, which could provide some support, the overall sentiment remains negative due to the company's recent financial performance and valuation concerns. The stock's current liquidity is adequate for trading, but the ongoing declines and poor management efficiency suggest a challenging environment for recovery in the near term.