Why is Visa Steel falling/rising?

As of 21-Jul, Visa Steel Ltd's stock price is currently at 35.49, reflecting an increase of 0.21 or 0.6%. The stock has been gaining for the last two days, with a total return of 0.65% during this period. However, it has underperformed its sector by 0.32% today. Over the past week, Visa Steel has generated a return of 1.40%, significantly outperforming the benchmark Sensex, which has seen a slight decline of 0.06%. Despite a strong one-year performance of 40.44% compared to the market's 1.98%, the company faces challenges such as a negative book value, high debt levels, and poor long-term growth metrics, which may contribute to investor caution.
In the broader market context, Visa Steel's recent short-term performance contrasts with the benchmark's slight decline, indicating a relative strength in its price movement. However, the stock's liquidity is a concern, as evidenced by a significant drop in delivery volume, which fell by 68.92% against the five-day average. Additionally, the high percentage of pledged promoter shares (72.79%) adds to the risk profile, potentially exerting downward pressure on the stock in volatile market conditions. Overall, while Visa Steel has shown impressive returns over the past year, its underlying financial weaknesses and market dynamics suggest a cautious outlook.