Why is Bihar Sponge falling/rising?

As of 15-Sep, Bihar Sponge Iron Ltd's stock price is currently at 13.66, reflecting an increase of 0.26 or 1.94%. Today's price summary indicates that the stock has outperformed its sector by 1.07% and has experienced a trend reversal, gaining after two consecutive days of decline. However, the stock is trading below all its moving averages, indicating a bearish trend. Over the past week, the stock has underperformed with a return of -1.73%, and it has seen a significant decline of 45.38% over the past year, compared to a slight negative return of -1.33% for the Sensex. The company faces challenges such as a negative book value, high debt levels, and poor long-term growth, which contribute to its weak fundamental strength.
In the broader market context, while the stock has shown a slight uptick today, it has significantly lagged behind the benchmark indices over the past year, with a return of -45.38% compared to the BSE500's -3.45%. The high percentage of pledged promoter shares (52.05%) adds to the stock's risk, particularly in a declining market, potentially exerting additional downward pressure on its price. Despite a rise in investor participation, as evidenced by a 50.09% increase in delivery volume, the overall sentiment remains cautious due to the company's negative EBITDA and recent poor financial performance, which may hinder any sustained recovery in the stock price.