Why is SAIL falling/rising?

As of 02-Jul, Steel Authority Of India Ltd. (SAIL) is experiencing a price increase, currently at Rs 137.45, reflecting a rise of 4.1 or 3.07%. The stock has shown strong performance recently, with a consecutive gain over the last three days and an overall increase of 4.41% during this period. It has outperformed its sector by 1.66% today and has been trading above its moving averages across various timeframes. Additionally, the stock has demonstrated significant returns over the past week and month, with increases of 7.22% and 5.29%, respectively. However, it is important to note that despite these recent gains, the stock has generated a negative return of -6.31% over the past year, and its profits have decreased by -28.8%. The stock is currently trading at a discount compared to its peers, which may attract investors looking for value.
In the broader market context, SAIL's short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 0.79% over the past week and 2.50% over the past month. This indicates that investor sentiment towards SAIL is relatively strong compared to the overall market. The rising investor participation, as evidenced by an increase in delivery volume, further supports the stock's upward movement. Despite the negative factors such as declining profits and a year-over-year loss, the attractive valuation and majority ownership by promoters may contribute to a more favorable outlook for the stock in the near term.