Why is Jindal Steel falling/rising?

As of 01-Jul, Jindal Steel & Power Ltd is experiencing a rise in its stock price, currently at 950.45, reflecting an increase of 11.05 or 1.18%. The stock has shown positive performance today, outperforming its sector by 0.93% and has gained consecutively over the last two days with a total return of 1.19%. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 40.98% compared to the 5-day average. Despite a year-over-year return of -10.10%, the company has demonstrated high management efficiency with a ROCE of 17.99% and a low Debt to EBITDA ratio of 1.09 times, suggesting a solid ability to service its debt. Additionally, rising promoter confidence, with a 1.03% increase in their stake, signals optimism about the company's future.
In the broader market context, Jindal Steel's short-term return of +2.80% over the past week has outperformed the benchmark Sensex, which increased by 2.00%. However, the stock's year-to-date performance of +2.13% lags behind the Sensex's +7.11%, indicating that while the stock is currently gaining, it has not kept pace with the overall market in the longer term. The attractive valuation compared to peers and the recent increase in promoter stakes may contribute to a more favorable outlook, but the significant drop in delivery volume raises concerns about sustained investor interest.