Why is Bharat Bijlee falling/rising?

As of 27-Jun, Bharat Bijlee Ltd's stock price is currently at 3,072.80, reflecting a decrease of 23.2 points or 0.75%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 2.58% during this period. Despite a positive performance over the past week with a return of 9.10%, the stock has significantly underperformed the market over the last year, with a return of -35.41% compared to the Sensex's gain of 6.08%. Additionally, the stock's delivery volume has decreased by 11.25% against its 5-day average, indicating a decline in investor participation. While the company boasts a low debt-to-equity ratio and has shown positive growth in net sales and profit before tax, these factors have not been sufficient to counteract the overall negative sentiment surrounding the stock.
Broader market context reveals that while the stock has shown some strength in the short term, it has consistently lagged behind the benchmark indices over the longer term. The Sensex has increased by 7.58% year-to-date, contrasting sharply with Bharat Bijlee's decline of 17.88% in the same timeframe. This underperformance, coupled with the stock's negative returns over the past year, suggests a lack of confidence among investors, despite the company's attractive valuation metrics and high institutional holdings. The overall market conditions have favored broader indices, further contributing to the downward pressure on Bharat Bijlee's stock price.