Why is Bihar Sponge falling/rising?

As of 25-Jun, Bihar Sponge Iron Ltd's stock price is rising, currently at 16.02, reflecting an increase of 1.06 or 7.09%. The stock has shown strong performance today, outperforming its sector by 6.1% and gaining 14.43% over the last two days. It opened with a gain of 2.01% and reached an intraday high of Rs 17.4, although it also experienced a low of Rs 14.66. Over the past week, the stock has increased by 7.95%, and over the past month, it has surged by 32.84%. Despite these positive short-term movements, the company faces challenges, including a negative book value and high debt levels, which contribute to its weak long-term fundamental strength. The stock's performance is further complicated by a negative EBITDA and a significant portion of promoter shares being pledged.
In the broader market context, Bihar Sponge Iron Ltd has outperformed the Sensex in the short term, with a 1-week return of 7.95% compared to the Sensex's 1.61%. However, while the stock has shown impressive gains in the short term, it has a year-to-date return of -3.78%, contrasting with the Sensex's positive return of 5.91%. This indicates that despite recent gains, the stock's overall performance this year has been underwhelming compared to the broader market. The high volatility observed today, with an intraday volatility of 8.55%, suggests that investor sentiment may be fluctuating, influenced by both the stock's recent performance and its underlying financial challenges.