Why is Bharat Bijlee falling/rising?

As of 30-Jun, Bharat Bijlee Ltd's stock price is currently at Rs 3,098.90, reflecting an increase of Rs 26.1 or 0.85%. The stock has shown a positive trend today, gaining after two consecutive days of decline, and has outperformed its sector by 0.29%. Over the past week, the stock has risen by 11.43%, while it has also seen a 4.13% increase over the past month. Despite a significant year-to-date decline of 17.19% and a one-year drop of 33.43%, the company has reported strong financial results, including a 64.4% growth in profit before tax and a 32.4% increase in net sales compared to previous quarters. The low debt-to-equity ratio and high institutional holdings suggest a stable financial position, which may contribute positively to the stock's recent performance.
In the broader market context, the stock's short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 2.09% over the past week and 2.65% over the past month. However, the stock has underperformed the market over the last year, where the BSE 500 index generated returns of 3.95%. This contrast highlights the stock's volatility and the challenges it faces despite recent positive movements. The high institutional ownership indicates confidence from larger investors, which may help stabilize the stock in the face of its historical underperformance.