Why is Visa Steel falling/rising?

As of 01-Oct, Visa Steel Ltd's stock price is rising, currently at Rs 43.12, reflecting an increase of 2.05 (4.99%). The stock has shown strong performance recently, gaining 10.22% over the last two days and outperforming its sector by 4.53% today. It opened with a gain of 4.99% and has consistently traded at this price. Additionally, Visa Steel has demonstrated impressive returns over various periods, including a 34.75% increase over the past month and a 32.47% rise over the past year. Positive factors contributing to this upward movement include significant growth in profit before tax and net sales, as well as strong operating profit ratios. However, the company faces challenges such as a negative book value and high debt levels, which could impact its long-term growth potential.
In the broader market context, Visa Steel's short-term performance contrasts sharply with the benchmark Sensex, which has declined by 0.90% over the past week while Visa Steel has increased by 6.21%. This indicates that Visa Steel is not only performing well in isolation but is also gaining traction against a backdrop of a declining market. Despite the positive short-term performance, the company's high debt and pledged promoter shares present risks that could affect future price stability. Overall, the stock's recent gains are driven by strong operational results and market outperformance, despite underlying fundamental weaknesses.