Why is JSW Steel falling/rising?

As of 24-Sep, JSW Steel Ltd. is experiencing a price increase, currently at 1,149.00, reflecting a rise of 10.2 points or 0.9%. The stock has recently hit a new 52-week and all-time high of Rs. 1161.05, indicating strong upward momentum. Over the past week, the stock has gained 3.19%, and in the last month, it has risen by 9.02%. Additionally, it has outperformed its sector by 1.03% today and has shown consistent gains over the last two days, with a total increase of 2.81%. The stock is trading above all key moving averages, and there has been a notable increase in investor participation, with delivery volume rising by 40.21% compared to the five-day average. Positive financial metrics, such as a 131.1% growth in PAT and a strong operating profit to interest ratio, further bolster investor confidence. The stock is also trading at a discount compared to its peers, which may attract more buyers.
In the broader market context, while the Sensex has declined by 1.18% over the past week, JSW Steel's performance stands out, showcasing its resilience and strength in a challenging market environment. The stock has consistently outperformed the benchmark indices over various time frames, including a 27.48% year-to-date return compared to the Sensex's 4.58%. This strong performance, combined with high institutional holdings at 36.85%, suggests that informed investors are confident in the company's fundamentals, contributing to the stock's upward trajectory. Overall, the combination of positive financial results, strong market performance, and increased investor interest is driving the stock's rise.