Why is Jindal Steel falling/rising?

As of 05-Sep, Jindal Steel Ltd is experiencing a slight increase in its stock price, currently at 1,034.30, reflecting a change of 2.6 (0.25%) upwards. The stock has been performing well, gaining 9.1% over the past week and 3.47% over the last month, while it is also close to its 52-week high, just 3.8% away from Rs 1,073.65. Despite a recent decline in delivery volume by 27.91% compared to the 5-day average, the stock is trading above its moving averages across various timeframes, indicating strong momentum. Positive factors contributing to this rise include high management efficiency with a return on capital employed (ROCE) of 17.99%, a low debt to EBITDA ratio of 1.09, and high institutional holdings at 27.85%, which have increased by 0.54% over the previous quarter. However, the company has faced challenges, such as a significant drop in profits by 25% over the past year and a flat PAT growth of -49.26% in the latest six months.
In the broader market context, Jindal Steel's short-term performance has significantly outpaced the benchmark, with a 9.1% return over the past week compared to the Sensex's 1.13% increase. This trend of outperforming the market is consistent over longer periods as well, with Jindal Steel showing a year-to-date return of 11.14% against the Sensex's 3.29%. The stock's strong performance relative to the benchmark suggests that it is viewed favorably by investors, despite some underlying financial challenges. Overall, the combination of positive management metrics and recent stock performance has contributed to the upward movement in Jindal Steel's stock price.