Why is JSW Steel falling/rising?

As of 18-Aug, JSW Steel Ltd. is experiencing a price increase, currently at 1,080.40, reflecting a rise of 35.25 or 3.37%. The stock reached a new 52-week and all-time high of Rs. 1085 today, outperforming its sector by 1.66%. Over the past week, the stock has gained 2.57%, and it has shown strong performance over the past month with a 4.44% increase. Despite a significant drop in delivery volume by 52.31% against the 5-day average, the stock is trading above its moving averages, indicating positive momentum. The company's healthy long-term growth, with net sales increasing at an annual rate of 20.95% and operating profit at 24.00%, supports its rising stock price, although profits have fallen by 26.5% over the past year.
In the broader market context, JSW Steel's short-term return of 2.57% over the past week significantly outpaces the Sensex, which has only increased by 0.83% during the same period. The stock's performance is bolstered by high institutional holdings at 36.85%, suggesting confidence from knowledgeable investors. Additionally, JSW Steel has consistently outperformed the BSE500 over various time frames, including the last three years and one year, highlighting its strong market position. With a market cap of Rs 2,55,587 crore, it constitutes a substantial portion of its sector, further reinforcing its influence and stability in the market.