Why is Jindal Saw falling/rising?

As of 10-Jun, Jindal Saw Ltd is experiencing a price increase, currently at 247.80, reflecting a rise of 15.9 or 6.86%. The stock has been on an upward trend, gaining for the last three days with a total return of 14.91% during this period. It opened with a gain of 2.72% today and reached an intraday high of Rs 257.2, which is a 10.91% increase. Notably, the stock has outperformed its sector by 6.86% today. Despite a year-to-date decline of 15.22% and a one-year return of -11.15%, the stock has shown strong performance over the last three years with a return of 467.70%. Positive factors contributing to the recent rise include healthy long-term growth in net sales and operating profit, attractive valuation metrics, and increased institutional holdings, which suggest growing confidence among larger investors.
In the broader market context, Jindal Saw's short-term performance significantly outpaces the benchmark Sensex, which has only increased by 2.05% over the past week and 3.70% over the past month. This stark contrast highlights the stock's strong recovery in the short term, even as it has underperformed the market over the last year. The recent positive momentum is further supported by rising investor participation, as evidenced by a 193.57% increase in delivery volume compared to the five-day average. However, it is important to note that the stock is technically in a mildly bearish range, and the company has faced challenges, including a significant drop in quarterly profits, which could impact future performance.