Why is Jindal Steel falling/rising?

As of 30-Jul, Jindal Steel Ltd is currently priced at 981.70, reflecting a decrease of 3.15 points or 0.32%. Today's price summary indicates that the stock has underperformed its sector by 0.91%, and the delivery volume has significantly dropped by 83.75% compared to the 5-day average, suggesting a decline in investor participation. Despite this, the stock has shown positive returns over various periods, including a 4.50% increase over the past month and a substantial 152.04% rise over the last three years. The company's strong management efficiency, indicated by a high ROCE of 17.99%, and a low Debt to EBITDA ratio of 1.09 times, contribute to its attractive valuation, although profits have fallen by 31.9% over the past year.
In the broader market context, Jindal Steel's short-term performance has been relatively better than the benchmark, with a 0.42% increase over the past week compared to a 1.50% decline in the Sensex. However, the stock's current decline may be attributed to falling investor participation and a recent underperformance against its sector. Despite high institutional holdings at 27.85%, which typically indicate confidence in the stock's fundamentals, the recent drop in delivery volume and the stock's current price movement suggest a cautious sentiment among investors.