Why is Visa Steel falling/rising?

As of 08-Jul, Visa Steel Ltd's stock price is rising, currently at Rs 38.07, reflecting an increase of 1.81 (4.99%). The stock has shown strong performance today, outperforming its sector by 5.25%. It reached an intraday high of Rs 38.07 and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has gained 11.35%, and in the last month, it has risen by 26.06%, significantly outperforming the Sensex, which has only increased by 0.02% during the same period. However, the stock has experienced erratic trading, not trading on one day out of the last 20, and there has been a notable decline in delivery volume, which fell by 48.64% against the 5-day average. Despite these challenges, the stock's strong one-year return of 43.17% compared to the market's 1.98% indicates a market-beating performance.
In the broader market context, Visa Steel's short-term performance has been impressive, especially when compared to the Sensex, which has shown minimal movement. However, the company faces significant risks, including a negative book value and a high debt-to-equity ratio, which may undermine its long-term growth prospects. Additionally, the stock is trading at risky valuations despite its recent gains, as it has negative operating profits and a concerning pledge of 72.79% of promoter shares, which could exert downward pressure in adverse market conditions. These factors contribute to a complex picture of rising stock prices amid underlying vulnerabilities.