Why is Jindal Steel falling/rising?

As of 07-Aug, Jindal Steel Ltd is experiencing a price increase, currently at 998.70, reflecting a rise of 12.2 points or 1.24%. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Over the past week, the stock has gained 3.55%, while it has outperformed the benchmark Sensex, which has declined by 0.69%. Despite a drop in delivery volume by 21.41% compared to the 5-day average, the stock remains liquid enough for trading. The company has demonstrated high management efficiency with a return on capital employed (ROCE) of 17.99% and a low debt to EBITDA ratio of 1.09, suggesting strong financial health. However, it is important to note that while the stock has generated a return of 5.84% over the past year, its profits have decreased by 31.9%.
In the broader market context, Jindal Steel's short-term performance is notably stronger than the Sensex, which has seen a decline over the same period. The stock has consistently outperformed the BSE500 over the last three years, with a remarkable 154.28% return compared to the benchmark's 38.08%. Additionally, the increase in institutional holdings by 0.54% over the previous quarter reflects confidence from larger investors, who typically have more resources to analyze company fundamentals. This suggests that despite some negative factors, such as falling profits, the overall sentiment towards Jindal Steel remains positive, contributing to its rising stock price.