Why is Bihar Sponge falling/rising?

As of 02-Jul, Bihar Sponge Iron Ltd is experiencing a price increase, currently at 16.05, reflecting a rise of 0.25 or 1.58%. The stock has shown a positive trend in recent days, gaining 3.95% over the last two days and trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 12.58% compared to the 5-day average. However, despite these positive short-term movements, the company faces significant challenges, including a negative book value, high debt levels, and poor long-term growth metrics, which could undermine its overall stability and investor confidence.
In the broader market context, the stock's short-term performance of +0.19% over the past week is lagging behind the Sensex, which has risen by 0.79%. While the stock has outperformed the benchmark over the last month with a return of +23.56% compared to the Sensex's +2.50%, its year-to-date performance remains negative at -3.60%, contrasting with the Sensex's +6.75%. The presence of pledged promoter shares and a negative EBITDA further complicates the stock's outlook, suggesting that while there may be short-term gains, the underlying financial health of Bihar Sponge Iron Ltd poses risks that could affect its future price movements.