Why is JSW Steel falling/rising?

As of 25-Aug, JSW Steel Ltd. is experiencing a price increase, currently trading at 1,058.90, which reflects a rise of 4.95 or 0.47%. The stock has shown a trend reversal, gaining after two consecutive days of decline. It is currently 2.9% away from its 52-week high of Rs 1,089.65. Over the past month, the stock has performed well with a return of 3.38%, outperforming the benchmark Sensex, which has only increased by 0.21%. Additionally, the stock has demonstrated strong long-term growth, with a year-to-date return of 17.49% compared to the Sensex's 4.48%. Positive financial metrics, such as a significant operating profit and healthy net sales growth, further support the stock's upward movement.
In the broader market context, while JSW Steel's recent performance has been positive, it has underperformed the Sensex over the past week, with a decline of 1.99% compared to the benchmark's increase of 0.45%. However, the stock's strong institutional holdings at 36.85% indicate confidence from larger investors, which can contribute to stability and potential growth. The company’s substantial market capitalization and its dominant position in the sector, accounting for 23.78% of the industry, also play a crucial role in its resilience. Despite a recent drop in profits, the stock remains attractively valued compared to its peers, suggesting that the recent price increase may be driven by investor optimism regarding its long-term prospects.