Why is Jindal Steel falling/rising?

As of 22-Aug, Jindal Steel Ltd is currently priced at 997.00, reflecting a decrease of 14.0 points or 1.38%. The stock has been experiencing a decline, having lost 1.85% over the last two days. Despite this recent downturn, Jindal Steel has shown positive performance over the past week and month, with returns of 2.20% and 3.32%, respectively. The stock is trading above its moving averages across various time frames, indicating a generally strong position. However, the company has faced challenges, including a significant drop in profits by 25% over the past year, which may contribute to investor caution despite its high management efficiency and strong debt servicing ability.
In the broader market context, Jindal Steel's recent performance contrasts with the Sensex, which has gained 0.88% over the past week, while Jindal Steel has outperformed the index over the last month and year-to-date. The stock's returns over the last three years have been impressive, significantly exceeding the benchmark, which may reflect investor confidence in its long-term potential. However, the flat results reported in June, alongside a substantial decline in net profit, could be weighing on investor sentiment, leading to the current price decline despite the stock's overall positive trajectory in the longer term.