Why is Bihar Sponge falling/rising?

As of 11-Sep, Bihar Sponge Iron Ltd's stock price is currently at 13.67, reflecting a decline of 0.5, or 3.53%. The stock has underperformed its sector by 3.3% today and has experienced a trend reversal after four consecutive days of gains. It is trading below all its moving averages, indicating a bearish trend. Over the past week, the stock has shown a slight increase of 1.41%, but it has significantly underperformed over the last month and year, with declines of 6.94% and 46.56%, respectively. The company is facing challenges such as a negative book value, high debt levels, and a recent negative PAT growth of 33.01%, which contribute to its weak long-term fundamentals and overall riskiness.
In the broader market context, while the Sensex has gained 1.03% over the past week, Bihar Sponge's performance has been notably weaker, highlighting its struggles relative to the market. The stock's negative returns over the past year, coupled with a high percentage of pledged promoter shares, suggest additional downward pressure in a falling market. Despite a recent increase in investor participation, the overall sentiment remains negative due to the company's financial instability and poor growth metrics, leading to a continued decline in its stock price.