Why is Jindal Steel falling/rising?

As of 21-Jul, Jindal Steel & Power Ltd is currently priced at 961.25, reflecting an increase of 3.5 (0.37%). The stock has shown a positive trend, gaining 3.09% over the last three days and outperforming the Sensex over the past week and month, with returns of +2.63% and +7.24%, respectively. However, it has underperformed its sector today by -0.55%. Despite this, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum. Notably, while the stock has generated a return of 1.55% over the past year, its profits have declined by -31.9%. The recent increase in promoter confidence, with a 1.03% rise in their stake, suggests a positive outlook for the company, which is further supported by its high management efficiency and low debt levels.
In the broader market context, Jindal Steel's short-term performance has been favorable compared to the Sensex, which has seen a slight decline of -0.06% over the past week and -0.25% over the past month. This contrast highlights the stock's resilience amidst a generally weak market environment. However, the falling investor participation, as evidenced by a -19.7% drop in delivery volume, may indicate some caution among investors. Despite this, the stock's liquidity remains adequate for trading, suggesting that while there may be some short-term fluctuations, the overall sentiment towards Jindal Steel appears to be positive, driven by strong fundamentals and increasing promoter confidence.