Why is Jindal Steel falling/rising?

As of 18-Sep, Jindal Steel Ltd is currently priced at 1,047.00, reflecting an increase of 13.5, or 1.31%. The stock is trading close to its 52-week high, just 2.55% away from Rs 1,073.65. It has outperformed its sector by 0.91% today and is trading above all its moving averages, indicating a strong upward trend. However, there has been a notable decline in investor participation, with delivery volume falling by 51.87% compared to the 5-day average. Despite this, the company maintains a high management efficiency with a return on capital employed (ROCE) of 17.99% and a low debt to EBITDA ratio of 1.09 times, which supports its ability to service debt. High institutional holdings at 27.85%, which have increased by 0.54% over the previous quarter, further bolster confidence in the stock.
In the broader market context, Jindal Steel's short-term performance over the past week shows a return of 0.55%, which is below the benchmark Sensex's return of 1.80%. However, the stock has demonstrated consistent returns over the last three years, significantly outperforming the BSE500 in each of the last three annual periods. While the stock has generated a modest return of 2.25% over the past year, it is important to note that profits have declined by 25%, which may raise concerns among investors. Overall, despite some positive indicators such as high institutional interest and strong management efficiency, the recent drop in investor participation and declining profits could be contributing factors to the stock's price movement.