Why is Visa Steel falling/rising?

As of 02-Jul, Visa Steel Ltd's stock price is currently at 35.89, reflecting an increase of 1.7 or 4.97%. Despite this positive movement today, the stock has underperformed its sector significantly, with a performance drop of 101.41%. Additionally, the stock has shown erratic trading patterns, not trading on one day out of the last 20 days, and is trading below all its moving averages. The delivery volume has also seen a drastic decline, falling by 98.27% against the 5-day average, indicating a lack of investor participation. While the stock has generated a strong return of 28.27% over the past year, it faces challenges such as a negative book value, high debt levels, and a weak long-term growth outlook, which contribute to its risky profile.
In the broader market context, Visa Steel's short-term return of 4.06% over the past week outpaces the Sensex's return of 0.79%, suggesting some relative strength. However, the stock's year-to-date performance is nearly flat at -0.06%, contrasting with the Sensex's gain of 6.75%. The high percentage of pledged promoter shares (72.79%) adds to the stock's vulnerability in a declining market, potentially exerting additional downward pressure on prices. Overall, while there are some positive short-term movements, the underlying fundamentals and market conditions suggest a cautious outlook for Visa Steel.