Why is Jindal Steel falling/rising?

As of 06-Aug, Jindal Steel Ltd is currently priced at 985.75, reflecting a decrease of 13.85 points or 1.39%. Today's performance indicates that the stock has underperformed its sector by 0.84%, following a trend reversal after two consecutive days of gains. Despite this decline, Jindal Steel is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive long-term trend. However, there has been a notable decrease in investor participation, with delivery volume falling by 18.89% compared to the 5-day average. Over the past year, while the stock has generated a return of 6.38%, its profits have decreased by 31.9%, which may contribute to the current price movement. The company maintains a high management efficiency with a return on capital employed (ROCE) of 17.99%, and its low debt to EBITDA ratio of 1.09 times indicates a strong ability to service debt, which are positive factors for the stock.
In the broader market context, Jindal Steel's short-term return of 0.41% over the past week contrasts with a decline of 1.15% in the Sensex, indicating relative strength against the benchmark. However, the stock's performance over the last month shows a gain of 3.76%, while the Sensex has fallen by 3.46%, further highlighting its resilience. Despite these positive indicators, the recent drop in price may reflect broader market sentiments or profit-taking by investors, especially given the high institutional holdings at 27.85%, which have increased by 0.54% over the previous quarter. This suggests that institutional investors, who typically have better resources to analyze company fundamentals, may still have confidence in the stock despite the recent price decline.