Why is Bharat Bijlee falling/rising?

As of 17-Jul, Bharat Bijlee Ltd's stock price is currently at 3,291.40, reflecting a decrease of 48.6 points or 1.46%. The stock has recently underperformed its sector by 1.63% and has experienced a trend reversal, falling after two consecutive days of gains. Over the past week, the stock has shown a positive return of 2.69%, while its performance over the last month has been even stronger at 11.80%. However, the stock has significantly underperformed over the past year, with a decline of 37.31%. Despite this, the company has reported positive financial results, including the highest cash and cash equivalents and net sales in its recent quarterly report, which may indicate underlying strength. The stock's attractive valuation, with a price-to-book ratio of 1.9 and a low debt-to-equity ratio, suggests it is trading at a fair value compared to its peers.
In the broader market context, the stock's performance contrasts sharply with the benchmark, as it has underperformed the BSE500 index, which has generated a return of 0.26% over the last year. While Bharat Bijlee's year-to-date return is negative at -12.04%, the benchmark has gained 5.27% during the same period. The stock's high institutional holdings at 21.14% indicate confidence from larger investors, who typically have better resources to analyze company fundamentals. However, the significant negative return over the past year raises concerns among investors, contributing to the current decline in stock price.