Why is Bihar Sponge falling/rising?

As of 18-Sep, Bihar Sponge Iron Ltd's stock price is currently at 13.15, reflecting a decline of 0.68, or 4.92%. The stock has been underperforming significantly, with a consecutive fall over the last two days resulting in a total drop of 5.33%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the delivery volume has decreased by 42.23% compared to the 5-day average, suggesting a lack of investor interest. The company is facing serious challenges, including a negative book value and a high debt-to-equity ratio, which contribute to its weak long-term fundamentals. Recent negative results, including a decline in profit after tax and a high percentage of non-operating income, further exacerbate the stock's risk profile, leading to its recent price drop.
In the broader market context, Bihar Sponge Iron's performance has been notably poor compared to the benchmark Sensex, which has gained 1.80% over the past week while the stock itself has fallen by 3.80%. Over the past year, the stock has generated a return of -44.51%, starkly contrasting with the Sensex's modest increase of 0.08%. This underperformance is compounded by the fact that 52.05% of promoter shares are pledged, which can exert additional downward pressure in a declining market. Overall, the combination of weak fundamentals, declining investor participation, and a lack of positive momentum in the broader market context has led to the stock's recent decline.