Why is Bihar Sponge falling/rising?

As of 08-Jul, Bihar Sponge Iron Ltd's stock price is currently at 16.20, reflecting a decrease of 0.08 or 0.49%. The stock has experienced a trend reversal, falling after two consecutive days of gains. Despite this recent decline, the stock has shown strong performance over the past month, with a return of 22.82%, significantly outperforming the Sensex, which only increased by 1.85%. However, the company faces challenges, including a negative book value and weak long-term fundamental strength, as indicated by poor growth in net sales and operating profit over the last five years. Additionally, the high debt-to-equity ratio and the fact that 52.05% of promoter shares are pledged contribute to the stock's risk profile, putting downward pressure on its price.
In the broader market context, while Bihar Sponge has had a positive return of 2.53% over the past week, the Sensex has remained relatively flat with a mere 0.02% increase. This suggests that the stock's short-term performance is outperforming the benchmark, but the overall market conditions may not be favorable for sustaining such gains. The stock's liquidity appears adequate, with a significant increase in delivery volume, indicating rising investor participation. However, the company's negative EBITDA and high levels of pledged shares create a risky investment environment, which may be influencing the recent price decline despite its historical performance over longer periods.