Why is Bihar Sponge falling/rising?

As of 09-Jul, Bihar Sponge Iron Ltd's stock price is currently at 16.00, reflecting a decrease of 0.2, or 1.23%. The stock has underperformed its sector today, falling for the last two days with a total decline of 1.72%. Although it is trading above its moving averages for 5, 20, 50, 100, and 200 days, the delivery volume has decreased by 12.04% compared to the 5-day average, indicating a drop in investor participation. The company faces significant challenges, including a negative book value and a high debt-to-equity ratio, which contribute to its weak long-term fundamentals. Additionally, the stock's negative EBITDA and the fact that 52.05% of promoter shares are pledged add to the downward pressure on its price.
In the broader market context, the stock's performance over the past week shows a decline of 0.31%, while the Sensex has increased by 0.15%. Over the past month, Bihar Sponge has outperformed the benchmark with a return of 23.08% compared to the Sensex's 1.32%. However, the year-to-date performance is concerning, with a decline of 3.90% against the Sensex's gain of 6.91%. This combination of underperformance in the short term, alongside the company's financial struggles and high levels of pledged shares, suggests that the stock is facing significant headwinds in the current market environment.