Why is Jindal Steel falling/rising?

As of 09-Jul, Jindal Steel & Power Ltd is experiencing a decline in its stock price, currently at Rs 945.00, which reflects a decrease of Rs 5.8 or 0.61%. The stock has been losing value for the last two days, with a total drop of 0.69% during this period. It reached an intraday low of Rs 927.9, indicating a significant downward movement. Over the past week and month, the stock has underperformed, with returns of -2.73% and -2.90%, respectively. Despite a high management efficiency indicated by a return on capital employed (ROCE) of 17.99% and a low debt to EBITDA ratio of 1.09, the stock's performance has been negatively impacted by a 31.9% fall in profits over the past year, contributing to its overall decline of 7.39% in the last year.
In the broader market context, Jindal Steel's recent performance contrasts with the Sensex, which has shown a slight increase of 0.15% over the past week and a more substantial rise of 1.32% over the past month. This underperformance relative to the benchmark suggests that investor sentiment towards Jindal Steel may be waning, as indicated by a significant drop in delivery volume by 56.56% against the 5-day average. However, the recent increase in promoter stake by 1.03% signals a level of confidence in the company's future, which could provide some support to the stock amidst its current challenges.