Why is Jindal Steel falling/rising?

As of 27-Jun, Jindal Steel & Power Ltd is experiencing a decline in its stock price, currently at 939.25, which reflects a decrease of 15.4 points or 1.61%. Despite this drop, the stock has shown a positive performance over the past week with a return of 4.79%, although it has underperformed its sector today by 1.43%. The stock is trading above its moving averages across various time frames, indicating some underlying strength. However, the company has faced challenges, as evidenced by a 10.34% decline over the past year and a significant profit drop of 31.9%. On a positive note, the management efficiency is high, with a return on capital employed (ROCE) of 17.99%, and the promoters have increased their stake, reflecting confidence in the company's future.
In the broader market context, Jindal Steel's recent performance contrasts with the benchmark Sensex, which has gained 2.00% over the past week and 3.07% over the past month. While Jindal Steel has shown strong returns over the longer term, such as a 191.06% increase over three years, its recent struggles highlight a disconnect with the overall market trend. The stock's liquidity remains adequate, allowing for trading activity, but the recent price decline suggests that investor sentiment may be cautious despite the positive indicators of management efficiency and promoter confidence.