Why is Jindal Steel falling/rising?

As of 04-Aug, Jindal Steel Ltd is experiencing a price increase, currently at 980.50, reflecting a rise of 35.0 or 3.7%. Today's performance indicates a trend reversal, as the stock has gained after three consecutive days of decline. It reached an intraday high of Rs 991, marking a 4.81% increase. Over the past week, the stock has outperformed the sector by 0.85% and has shown positive returns of 3.21% over the past month, while the stock has consistently outperformed the BSE500 over the last three years with a remarkable 155.67% return. Despite a recent decline in profits by 31.9% over the past year, the company maintains a high management efficiency with a return on capital employed (ROCE) of 17.99% and a low debt to EBITDA ratio of 1.09 times, which supports its ability to service debt effectively.
In the broader market context, Jindal Steel's short-term performance has been favorable compared to the benchmark, with a 1-week return of 0.33% against the Sensex's 0.16%. The stock's liquidity remains adequate for trading, although there has been a decline in investor participation, with delivery volume falling by 14.88% against the 5-day average. The steel sector overall has gained by 2.92%, contributing positively to Jindal Steel's performance. Additionally, the stock is trading at a discount compared to its peers' average historical valuations, which may attract institutional investors, as evidenced by a 0.54% increase in their holdings over the previous quarter.