Why is Jindal Steel falling/rising?

As of 07-Jul, Jindal Steel & Power Ltd is currently priced at 951.60, reflecting an increase of 1.6, or 0.17%. The stock has shown a positive trend today, outperforming its sector by 0.35% and reversing a two-day decline. It is trading above its moving averages across various time frames, indicating a bullish sentiment. However, the stock has experienced a decline of 1.12% over the past month and a significant drop of 9.43% over the past year, despite a strong three-year return of 171.38%. The company's high management efficiency, demonstrated by a return on capital employed (ROCE) of 17.99%, and a low debt to EBITDA ratio of 1.09 times, suggest a solid financial foundation. Additionally, the recent increase in promoter stake by 1.03% signals confidence in the company's future, which may contribute positively to the stock's recent performance.
In the broader market context, Jindal Steel's short-term performance has been favorable compared to the benchmark, as it has gained 1.30% over the past week while the Sensex has declined by 0.20%. However, the stock's longer-term performance is lagging behind the benchmark, with a year-to-date return of 2.25% compared to the Sensex's 6.79%. The falling investor participation, as indicated by a 78.95% drop in delivery volume, could be a concern, suggesting that while the stock is currently rising, there may be underlying issues affecting investor confidence. Overall, while Jindal Steel is experiencing a slight uptick, its longer-term challenges and reduced trading activity may temper enthusiasm.