Why is JSW Steel falling/rising?

As of 23-Sep, JSW Steel Ltd. is experiencing a price increase, currently at Rs. 1,138.80, reflecting a rise of Rs. 21.2 or 1.9%. The stock has recently hit a new 52-week high of Rs. 1,148 and has outperformed its sector by 0.61%. Over the past week, the stock has gained 1.91%, and it has shown strong performance over the past month with an increase of 8.05%. Despite a decline in delivery volume by 36.53% against the 5-day average, the stock is trading above all key moving averages, indicating positive momentum. Additionally, the company has demonstrated robust long-term growth with net sales increasing at an annual rate of 20.95% and operating profit at 24.00%, contributing to a favorable outlook.
In the broader market context, while the Sensex has declined by 0.34% over the past week, JSW Steel's performance stands out positively, showcasing its resilience and strength in comparison to the benchmark. The stock has generated a return of 15.99% over the past year, significantly outperforming the Sensex, which has fallen by 3.33% during the same period. High institutional holdings at 36.85% suggest strong confidence from knowledgeable investors, further supporting the stock's upward movement. Overall, the combination of strong financial performance, positive market sentiment, and relative outperformance against the benchmark contributes to the rising price of JSW Steel.