Why is Jindal Steel falling/rising?

As of 01-Aug, Jindal Steel Ltd is experiencing a decline in its stock price, currently at 945.05, which reflects a decrease of 19.45 or 2.02%. The stock has been on a downward trend, losing value for the last three days and recording a total drop of 4.04% during this period. It has also touched an intraday low of Rs 942.65. In terms of performance relative to the benchmark, the stock has underperformed with a 1-week return of -5.49% compared to the Sensex's -1.06%. Despite a strong management efficiency indicated by a high ROCE of 17.99% and a low Debt to EBITDA ratio of 1.09 times, the stock's recent performance has been negatively impacted by a significant profit decline of 31.9% over the past year, contributing to its current valuation being at a discount compared to peers.
Broader market context shows that the steel sector, which includes Jindal Steel, has also faced challenges, with a sector-wide decline of 2.25%. While the stock has shown resilience over a longer period, with a 3-year return of 141.86% and a 5-year return of 410.98%, its short-term performance has not mirrored this success. The stock's recent performance contrasts with the broader market, as it has underperformed the Sensex in the short term, which has seen a decline of 3.70% over the past month. However, rising investor participation, evidenced by a 77.26% increase in delivery volume, suggests some underlying interest that may stabilize the stock in the future.