Why is Jindal Drilling falling/rising?

As of 15-Jul, Jindal Drilling & Industries Ltd is currently priced at 609.95, reflecting an increase of 3.95 or 0.65%. The stock has shown a trend reversal, gaining after two consecutive days of decline. Despite this positive movement today, the stock has underperformed in the last month, with a return of -8.62%, while the benchmark Sensex has risen by 1.79%. The stock's performance has been characterized by a decrease in investor participation, as evidenced by a significant drop in delivery volume. However, the company has demonstrated strong fundamentals, including a low debt-to-equity ratio and substantial growth in net sales and operating profit, which may support its recent price increase.
In the broader market context, Jindal Drilling's short-term performance contrasts sharply with the benchmark, as it has outperformed the sector by 0.42% today, while the Sensex has declined by 1.36% over the past week. The stock's long-term growth potential is bolstered by increasing participation from institutional investors, who have raised their stake in the company, indicating confidence in its fundamentals. Despite the stock's negative returns year-to-date and over the past year, the significant rise in profits and attractive valuation metrics suggest that the recent price increase may be a response to these underlying strengths, even as the stock has faced challenges in the short term.