Why is SAIL falling/rising?

As of 03-Jul, Steel Authority Of India Ltd. (SAIL) is experiencing a decline in its stock price, currently at 136.40, which reflects a decrease of 1.05 or 0.76%. The stock has underperformed its sector by 0.34% today and has seen a trend reversal after three consecutive days of gains. Despite this recent downturn, SAIL has shown positive performance over the past week and month, with returns of 2.10% and 4.72%, respectively. However, the stock has generated a negative return of 10.00% over the past year, coinciding with a significant profit decline of 28.8%. The stock is trading at a discount compared to its peers, which may indicate an attractive valuation, but the recent performance suggests caution among investors.
In the broader market context, SAIL's short-term performance has outpaced the benchmark Sensex, which has declined by 0.62% over the past week. While SAIL's year-to-date return of 20.60% is significantly higher than the Sensex's 6.53%, the stock's recent price drop may reflect investor sentiment shifting due to the recent profit decline and the stock's overall negative return over the past year. The rising investor participation, indicated by a substantial increase in delivery volume, suggests that there is still interest in the stock, but the current price movement indicates a cautious outlook among investors in light of the recent trend reversal.