Why is Bajel Projects falling/rising?

As of 11-Sep, Bajel Projects Ltd is experiencing a decline in its stock price, currently at Rs 193.30, which reflects a decrease of Rs 1.7 or 0.87%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 5.59% during this period. Today's trading saw the stock reach an intraday high of Rs 204.7 but also dip to a low of Rs 186, indicating high volatility with a wide trading range of Rs 18.7. The stock's performance over the past week shows a significant drop of 4.47%, and over the past month, it has decreased by 13.65%. Despite a low debt-to-equity ratio and healthy long-term growth in net sales and operating profit, the company faces challenges such as poor management efficiency, reflected in a low return on equity (ROE) of 2.40%, and negative quarterly results that have contributed to its recent price decline.
In the broader market context, Bajel Projects' short-term performance has been notably worse than the benchmark, with the Sensex gaining 1.03% over the past week while Bajel Projects fell by 4.47%. This underperformance is further highlighted by the stock's year-to-date decline of 29.40%, contrasting sharply with the Sensex's increase of 4.36%. The increasing participation of institutional investors, who have raised their stake in the company, may provide some support; however, the overall sentiment remains negative due to the company's recent financial results and low profitability metrics. The stock's expensive valuation, indicated by a high price-to-book ratio, further complicates its outlook, suggesting that despite some positive factors, the prevailing trends are leading to a downward trajectory in its stock price.