Why is Jindal Saw falling/rising?

As of 06-Aug, Jindal Saw Ltd's stock price is currently at Rs 206.30, reflecting a decrease of Rs 4.45 or 2.11%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 2.13%. It is also trading close to its 52-week low, just 3.17% above Rs 199.75. Over the past week, the stock has decreased by 3.42%, and its performance over the last month shows a significant drop of 11.48%. Additionally, while the company has shown healthy long-term growth in net sales and operating profit, recent negative results, including a 24.16% decline in PAT over the last six months, have contributed to the stock's downward trend. Furthermore, a decrease in institutional investor participation, with a 1.5% reduction in their stake, indicates a lack of confidence among more sophisticated investors.
In the broader market context, Jindal Saw's performance has been notably weaker compared to the benchmark Sensex, which has only declined by 1.15% over the past week. The stock's year-to-date performance shows a staggering decline of 29.42%, contrasting sharply with the Sensex's positive return of 3.08%. This underperformance is compounded by the fact that while the broader market has generated a slight return of 0.35% over the past year, Jindal Saw has faced a substantial loss of 31.60%. The combination of poor recent financial results, declining institutional interest, and significant underperformance relative to the market has led to the stock's current downward trajectory.