Why is Bihar Sponge falling/rising?

As of 07-Jul, Bihar Sponge Iron Ltd is experiencing a price increase, currently trading at 16.28, which reflects a rise of 0.63 or 4.03%. The stock has shown strong performance recently, outperforming its sector by 4.21% today and achieving consecutive gains over the last two days with a total return of 4.69% in that period. Additionally, the stock has performed well over the past week and month, with returns of +5.44% and +23.43%, respectively. However, the company faces significant challenges, including a negative book value and a high debt-to-equity ratio, which contribute to its classification as a strong sell. The stock's performance is further complicated by a negative EBITDA and a high percentage of pledged promoter shares, which can exert downward pressure in volatile markets.
In the broader market context, while Bihar Sponge Iron Ltd has shown positive short-term returns, the benchmark Sensex has declined by 0.20% over the past week. This indicates that the stock is performing well relative to the market, particularly in the short term. However, the company's long-term fundamentals remain weak, as evidenced by poor growth in net sales and operating profit over the last five years. Despite the recent price increase, the overall outlook is tempered by the company's financial instability and the risks associated with high levels of pledged shares.