Why is Bihar Sponge falling/rising?

As of 14-Jul, Bihar Sponge Iron Ltd's stock price is rising, currently at 17.70, with a change of 0.45, reflecting a 2.61% increase. The stock has shown strong performance recently, gaining 10.69% over the last two days and outperforming its sector by 2.64%. Over the past week, it has increased by 8.72%, and in the last month, it has risen by 17.61%. Despite a negative book value and weak long-term fundamentals, the stock has generated a 4.18% return over the past year and has outperformed the BSE500 in the last three years, indicating a market-beating performance in both the long and near term.
In the broader market context, while Bihar Sponge Iron Ltd has been performing well, the benchmark Sensex has experienced a decline of 1.42% over the past week. This contrast highlights the stock's strength in a challenging market environment. However, the company faces risks due to its high debt levels and negative EBITDA, which could impact its long-term growth potential. Additionally, with 52.05% of promoter shares pledged, there is a risk of downward pressure on the stock in falling markets, which investors should consider despite the recent positive price movement.