Why is Steel Exchange falling/rising?

As of 19-Aug, Steel Exchange India Ltd's stock price is currently at 10.26, reflecting an increase of 0.06 or 0.59%. The stock has shown a trend reversal, gaining after three consecutive days of decline. However, it has underperformed the benchmark, with a 1-week return of -3.66% compared to the Sensex's +1.76%. The stock's delivery volume has decreased by 25.63% against the 5-day average, indicating falling investor participation. Despite a positive return on capital employed (ROCE) of 7.3 and attractive valuation metrics, the stock has generated a significant -21.92% return over the past year, even as profits have risen by 77.7%. This juxtaposition of declining stock performance against rising profits suggests potential undervaluation, but the overall weak long-term fundamentals, including a high debt-to-EBITDA ratio, raise concerns.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has consistently underperformed the BSE500 over the last three years. While the stock has gained slightly today, its longer-term trajectory remains negative, with a 1-year return of -21.92% compared to the Sensex's +1.52%. This underperformance highlights the challenges the company faces in achieving sustainable growth, particularly given its low ability to service debt and flat results in recent quarters. The broader market's positive movement, as indicated by the Sensex's gains, further emphasizes the stock's struggles relative to its peers.