Why is Visa Steel falling/rising?

As of 01-Aug, Visa Steel Ltd's stock price is currently at 34.84, reflecting a decline of 0.16, or 0.46%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days, resulting in a total drop of 5.2%. Despite this recent decline, the stock has shown strong performance over the past year, generating a return of 52.74%, and has outperformed the BSE500 over the last three years. However, the company faces significant challenges, including a negative book value and weak long-term fundamental strength, as evidenced by stagnant net sales growth and high debt levels. Additionally, 72.79% of promoter shares are pledged, which can exert further downward pressure on the stock price in a declining market.
In the broader market context, Visa Steel's short-term performance has been relatively poor compared to the benchmark, with a 1-week return of -3.81% against the Sensex's -1.06%. The steel sector overall has also been underperforming, with a decline of 2.27%. While Visa Steel has outperformed its sector by 1.8% today, the falling investor participation, indicated by an 83.24% drop in delivery volume, suggests a lack of confidence among investors. This combination of sector-wide challenges and internal financial weaknesses contributes to the stock's current downward movement.