Why is S.A.L Steel falling/rising?

As of 04-September, S.A.L Steel Ltd's stock price is currently at 18.52, reflecting an increase of 0.27 or 1.48%. The stock has been on an upward trend, gaining for the last six consecutive days and achieving a total return of 7.8% during this period. It has outperformed its sector by 2.26% today. However, despite these short-term gains, the stock has experienced a significant decline over the past year, with a return of -19.79%. The company has reported operating losses and a substantial drop in profits, with a -1262% decline in profits over the past year, which raises concerns about its long-term fundamental strength. Additionally, a high debt-to-equity ratio of 5.47 times and a significant portion of promoter shares being pledged contribute to the stock's volatility.
In the broader market context, S.A.L Steel's short-term performance of +3.41% over the past week significantly outpaces the Sensex, which has only risen by 0.80% in the same timeframe. However, the stock's year-to-date performance remains poor, with a decline of -21.09%, contrasting with the Sensex's increase of +3.30%. This underperformance highlights the challenges the company faces, particularly in light of its recent negative financial results and high debt levels, which may deter investor confidence despite the recent price uptick.