Why is Jindal Steel falling/rising?

As of 05-Aug, Jindal Steel Ltd is experiencing a price increase, currently at 998.00, reflecting a rise of 17.5 or 1.78%. The stock has shown strong performance today, outperforming its sector by 1.72% and achieving a consecutive gain over the last two days with a total return of 5.55%. It reached an intraday high of Rs 1002.5, and it is trading above all key moving averages, indicating positive momentum. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 134.49% compared to the 5-day average. The company also boasts high management efficiency and a strong ability to service debt, which supports its valuation despite a recent decline in profits.
In the broader market context, Jindal Steel has outperformed the Sensex, with a 1-week return of +1.34% compared to the benchmark's -0.77%. Over the past month, the stock has gained 5.05%, while the Sensex has declined by 3.26%. This trend of consistent returns is further supported by high institutional holdings, which have increased by 0.54% in the previous quarter, indicating confidence from more knowledgeable investors. Overall, the combination of strong performance metrics, positive investor sentiment, and favorable comparisons to the benchmark contributes to the stock's rising price.