Why is Steel Exchange falling/rising?

As of 18-Jul, Steel Exchange India Ltd is currently priced at 10.68, reflecting an increase of 0.06 or 0.56%. The stock has shown a trend reversal, gaining after two consecutive days of decline. Despite this recent uptick, the stock's performance over the past week is down by 1.02%, while it has significantly outperformed the benchmark over the past month with a return of 30.72% compared to the Sensex's 0.38%. However, the stock has faced challenges, including a 72.71% drop in delivery volume, indicating falling investor participation. Additionally, while the stock trades at a discount to its peers and has seen a substantial profit increase of 138.2% over the past year, it has also experienced a significant decline of 19.03% in returns over the same period, raising concerns about its long-term fundamental strength.
In the broader market context, the stock's short-term performance has been relatively weak compared to the benchmark, as indicated by its 1W return of -1.02% against the Sensex's -0.90%. This underperformance is compounded by the company's high debt levels and the fact that 99.95% of promoter shares are pledged, which can exert additional downward pressure in a falling market. Furthermore, the stock has consistently underperformed against the benchmark over the last three years, which may contribute to investor hesitance. Overall, while there are some positive indicators such as attractive valuations and profit growth, the combination of weak long-term fundamentals and recent declines in investor participation suggests a cautious outlook for Steel Exchange India Ltd.