Why is Jindal Steel falling/rising?

As of 29-Jul, Jindal Steel Ltd is currently priced at 984.85, reflecting an increase of 7.55 or 0.77%. Despite this positive price movement, the stock has underperformed its sector by 0.62% today. It is noteworthy that Jindal Steel is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally upward trend. However, the delivery volume has significantly decreased by 51.26% compared to the 5-day average, suggesting a decline in investor participation. Over the past week, the stock has gained 2.06%, while it has outperformed the benchmark Sensex, which has decreased by 1.03% during the same period.
In the broader market context, Jindal Steel's recent performance contrasts with the benchmark, as it has shown resilience with a year-to-date return of 5.82%, while the Sensex has only increased by 4.09%. The stock's strong fundamentals, including a high return on capital employed (ROCE) of 17.99% and a low debt-to-EBITDA ratio of 1.09 times, support its valuation as a hold. Additionally, high institutional holdings at 27.85% indicate confidence from knowledgeable investors, which may contribute to the stock's stability. However, it is important to note that the company's profits have fallen by 31.9% over the past year, which could be a concern for future performance despite the stock's current upward movement.