Why is Jindal Saw falling/rising?

As of 13-Aug, Jindal Saw Ltd's stock price is currently at Rs 203.15, reflecting an increase of Rs 4.15 or 2.09%. The stock has shown a trend reversal, gaining after three consecutive days of decline, and it outperformed its sector by 1.52% today. Despite this positive movement, the stock is still trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past year, Jindal Saw has underperformed significantly, with a return of -34.19%, while its operating profit has decreased by 7.1%. Additionally, institutional investors have reduced their stake in the company, which may contribute to the stock's volatility.
In the broader market context, Jindal Saw's short-term performance over the past week shows a decline of 1.19%, while the Sensex has remained relatively flat with a change of -0.01%. This indicates that the stock is not only underperforming against the benchmark but also struggling to attract institutional investment, which typically signals a lack of confidence in the stock's fundamentals. The company's long-term growth potential is supported by a healthy operating profit growth rate of 24.66% and an attractive valuation, yet the recent negative results and falling participation from institutional investors suggest caution among market participants.