Why is Jindal Saw falling/rising?

As of 18-Aug, Jindal Saw Ltd is experiencing a price increase, currently at Rs 201.45, reflecting a change of 2.6 or 1.31% upward. Despite this daily gain, the stock has shown a negative performance over the past week, down 1.20%, and a significant decline of 11.82% over the past month. The stock is currently trading close to its 52-week low, just 2.08% above Rs 198, and is below its moving averages across multiple time frames, indicating a bearish trend. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 14.4% against the 5-day average. While the company has a healthy long-term growth outlook with an operating profit growth rate of 24.66% and an attractive valuation, it has faced challenges such as a 7.1% decline in profits over the past year and a significant drop in institutional investor participation.
In the broader market context, Jindal Saw's performance has underperformed compared to the benchmark, with a year-to-date return of -31.08% against the Sensex's positive return of 4.01%. This stark contrast highlights the stock's struggles relative to the market, particularly as it has generated a return of -35.89% over the past year while the BSE500 index has only declined by -1.14%. The recent price increase may be seen as a short-term correction, but the underlying fundamentals and recent negative results, including a decrease in institutional stakes, suggest ongoing challenges for the stock in maintaining upward momentum.