Why is India Steel falling/rising?

As of 01-Aug, India Steel Works Ltd's stock price is currently at Rs. 9.82, reflecting an increase of 0.46 or 4.91%. The stock has recently reached a new 52-week high and has been on a positive trajectory, gaining 21.09% over the last four days. Over the past week, it has outperformed the Sensex, with a return of 15.26% compared to the benchmark's decline of 1.06%. Despite these positive movements, the company faces challenges, including operating losses and a significant decline in net sales over the past five years, which has raised concerns about its long-term fundamental strength. Additionally, a decrease in promoter confidence, indicated by a reduction in their stake, may also weigh on investor sentiment.
Broader Market Context: In the context of the broader market, while India Steel has shown strong short-term performance, the steel sector overall has experienced a decline of 2.25%. The stock's impressive year-to-date return of 92.55% and a one-year return of 148.61% highlight its ability to outperform the market significantly. However, the Sensex has only gained 3.15% year-to-date, indicating that while India Steel is thriving, the overall market sentiment may be less favorable, which could impact future investor participation and confidence in the stock.