Why is Jindal Steel falling/rising?

As of 23-Jul, Jindal Steel Ltd is experiencing a price increase, currently at 977.60, reflecting a rise of 12.65 or 1.31%. The stock has shown strong performance today, outperforming its sector by 1.08% and has been on a consecutive gain streak for the last five days, accumulating a total return of 4.85% during this period. Additionally, Jindal Steel is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company has also seen a significant increase in investor participation, with delivery volume rising by 57.77% compared to the 5-day average. Despite a decline in profits over the past year, the company maintains high management efficiency and a strong ability to service debt, which contributes to a favorable outlook for investors.
In the broader market context, Jindal Steel's short-term return of 4.85% over the past week significantly outpaces the Sensex's modest gain of 0.11%, highlighting the stock's strong performance relative to the benchmark. The stock has consistently outperformed the BSE500 over the last three years, with a remarkable 171.25% return compared to the benchmark's 47.54%. Promoter confidence is also on the rise, as they have increased their stake in the company, which reflects a positive sentiment towards its future prospects. Overall, these factors contribute to the stock's upward movement in the current market environment.