Why is Bihar Sponge falling/rising?

As of 23-Jun, Bihar Sponge Iron Ltd's stock price is currently at 14.00, reflecting a decrease of 0.35, or 2.44%. The stock has underperformed its sector today by 2.63%, and its delivery volume has significantly dropped by 91.28% compared to the 5-day average, indicating falling investor participation. Over the past week, the stock has declined by 10.08%, while it has shown a modest gain of 16.09% over the past month. However, its year-to-date performance is down by 15.92%, suggesting ongoing challenges. The company faces significant issues, including a negative book value, high debt levels, and poor long-term growth metrics, which contribute to its classification as a strong sell.
In the broader market context, the Sensex has shown a slight increase of 0.12% over the past week, contrasting with Bihar Sponge's significant decline. This disparity highlights the stock's struggles relative to the overall market performance. The company's high percentage of pledged promoter shares, at 52.05%, adds to the risk, particularly in a falling market, which can exert additional downward pressure on the stock price. Overall, the combination of weak fundamentals, declining investor interest, and negative market sentiment has led to the stock's recent downward movement.