Why is Bharat Bijlee falling/rising?

As of 22-Jul, Bharat Bijlee Ltd's stock price is currently at 3,268.70, reflecting a decrease of -0.35 (-0.01%). The stock has been experiencing a downward trend, having fallen for the last two days with a total decline of -2.44%. In terms of performance against benchmarks, the stock has underperformed in the last week with a return of -0.44% compared to the Sensex's -0.47%. However, over the past month, it has shown a significant increase of +16.05%, while the Sensex has slightly decreased by -0.27%. Despite these positive short-term movements, the stock has a concerning annual return of -25.12%, indicating a longer-term struggle. The company has a low debt-to-equity ratio and has reported positive financial results, including a 64.4% growth in profit before tax and a 32.4% increase in net sales, which suggests a solid operational performance. However, the stock's recent price decline may be attributed to falling investor participation, as evidenced by a 42.86% drop in delivery volume against the five-day average.
In the broader market context, while the stock has outperformed its sector by 0.64% today, it continues to lag behind the overall market performance, which has seen a 0.99% return over the past year. This underperformance relative to the market may contribute to investor sentiment that is cautious or negative towards the stock, despite its attractive valuation metrics and high institutional holdings of 21.14%. The combination of recent price declines, reduced trading volume, and a significant drop in annual returns compared to the market suggests that investors are wary, leading to the stock's current downward movement.