Why is Bharat Bijlee falling/rising?

As of 03-Jul, Bharat Bijlee Ltd's stock price is currently at 2,999.35, reflecting a decrease of 45.4 points or 1.49%. The stock has been underperforming, having fallen for the last three consecutive days, resulting in a total decline of 3.21% during this period. In the past week, the stock has decreased by 3.12%, while over the past month, it has shown a modest increase of 3.55%. Despite positive financial results, including a significant growth in profit before tax and net sales, the stock has underperformed the market over the past year, with a return of -41.01% compared to the Sensex's 4.07%. Additionally, the stock's delivery volume has sharply declined, indicating falling investor participation.
In the broader market context, Bharat Bijlee's recent performance contrasts with the benchmark, as it has underperformed the Sensex, which has gained 3.10% over the past month. The stock's liquidity remains adequate, but the significant drop in delivery volume suggests a lack of interest from investors. While the company maintains a low debt-to-equity ratio and high institutional holdings, these factors have not translated into positive stock performance in the short term. The overall market sentiment appears to be unfavorable for Bharat Bijlee, contributing to its declining stock price.