Why is NMDC Steel falling/rising?

As of 16-Sep, NMDC Steel Ltd is currently priced at 45.83, reflecting a decrease of 0.35, or 0.76%. The stock has underperformed its sector by 1.42% today and has experienced a consecutive decline over the last two days, resulting in a total drop of 1.04% during this period. Despite this recent downturn, the stock has shown positive performance over the past week and month, with returns of 5.48% and 14.35%, respectively. The company has reported strong financial results, including an 18.57% growth in net sales and a significant increase in profit before tax, which may support investor confidence. However, a notable decline in delivery volume by 46.51% compared to the 5-day average suggests reduced investor participation, which could be contributing to the stock's recent price drop.
In the broader market context, NMDC Steel's short-term performance has outpaced the benchmark Sensex, which has only increased by 1.58% over the past week. Despite the stock's recent struggles, it has shown resilience with higher trading levels compared to various moving averages, indicating potential support at these levels. The high institutional holdings at 20.57% may provide a buffer against volatility, as these investors typically have a better understanding of the company's fundamentals. Overall, while the stock has faced recent declines, its strong financial performance and institutional backing may help stabilize its price in the longer term.