Why is Tarapur Trans falling/rising?

As of 30-Jul, Tarapur Transformers Ltd is currently priced at 26.65, reflecting an increase of 0.8 or 3.09%. The stock has shown a positive trend recently, gaining 8.07% over the last two days and outperforming its sector by 2.94% today. Despite this short-term gain, the stock has a mixed performance over longer periods, with a year-to-date decline of 42.54% and a negative EBITDA, indicating financial instability. Additionally, the company has a high Debt to EBITDA ratio and a negative book value, which raises concerns about its long-term fundamental strength. The fact that 93.31% of promoter shares are pledged adds further risk, especially in a declining market.
In the broader market context, the stock has outperformed the Sensex over the past week, gaining 2.66% compared to the benchmark's decline of 1.50%. However, over the last month, both the stock and the Sensex have experienced losses, with the stock down 0.78% and the Sensex down 2.54%. While Tarapur Transformers Ltd has shown strong returns over the last three years, the recent performance and high levels of pledged shares suggest that investor confidence may be wavering, contributing to the stock's volatility in the current market environment.