Why is Bihar Sponge falling/rising?

As of 24-Sep, Bihar Sponge Iron Ltd's stock price is currently at 13.01, reflecting an increase of 0.16 or 1.25%. Today's price summary indicates that the stock has outperformed its sector by 1.38% and has experienced a trend reversal, gaining after five consecutive days of decline. However, it is important to note that the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock has shown poor performance over the past week, down 5.93%, and has significantly underperformed the benchmark Sensex over the past month and year, with returns of -7.73% and -43.46%, respectively. The company faces challenges such as a negative book value, high debt levels, and a weak long-term growth outlook, which contribute to its classification as a strong sell.
Broader market context reveals that while Bihar Sponge has seen a slight uptick today, its overall performance remains concerning compared to the broader market. The Sensex has shown a modest gain of 0.50% over the past month, contrasting sharply with Bihar Sponge's decline. The stock's recent positive movement may be attributed to a temporary rebound after a prolonged downturn, but the underlying issues, including negative EBITDA and a high percentage of pledged promoter shares, suggest that the stock remains under pressure. This context highlights the stock's volatility and the risks associated with investing in it, particularly in a falling market.