Why is Visa Steel falling/rising?

As of 02-Sep, Visa Steel Ltd's stock price is rising, currently at Rs 33.60, reflecting an increase of 1.6 (5.0%). The stock has shown a strong performance today, outperforming its sector by 4.31% and has been on a gaining streak for the last three days, accumulating a total return of 7.9% during this period. Additionally, the stock opened with a gain of 5% today and reached an intraday high of Rs 33.60. Despite a negative trend in the longer term with a year-to-date decline of 6.43%, the stock has delivered impressive returns of 45.14% over the past year and has outperformed the BSE500 in the last three years. Positive quarterly results, including a significant growth in PAT and net sales, have contributed to the recent upward movement, although concerns remain due to the company's negative book value and high debt levels.
In the broader market context, Visa Steel's recent short-term return of 5.00% over the past week stands in stark contrast to the Sensex, which has declined by 0.78% during the same period. This indicates that Visa Steel is performing well relative to the overall market. However, the stock's long-term fundamentals are concerning, with poor growth rates in net sales and operating profit over the past five years, alongside a high debt-to-equity ratio. The presence of pledged promoter shares also adds a layer of risk, particularly in volatile market conditions, which could exert downward pressure on the stock price in the future.