Why is CHL falling/rising?

As of 29-Jul, CHL Ltd's stock price is currently at Rs 38.00, reflecting an increase of Rs 4.09 or 12.06%. Today's price movement indicates a trend reversal, as the stock has gained after three consecutive days of decline. Although it opened with a significant loss of 6.93%, it later reached an intraday high of Rs 40, showcasing high volatility with an intraday range of Rs 8.44. Despite this positive movement today, the stock has a negative book value and weak long-term fundamentals, with poor growth in net sales and operating profit over the past five years. Additionally, the company has a high debt-to-equity ratio, which raises concerns about its financial stability.
In the broader market context, CHL Ltd has outperformed the Sensex by 11.57% today, contrasting with its recent performance over the past week and month, where it gained 10.37% and 13.47%, respectively, while the Sensex declined by 1.03% and 3.24%. However, year-to-date, CHL's performance is lagging behind the benchmark, with a decline of 10.69% compared to the Sensex's gain of 4.09%. This mixed performance highlights the stock's volatility and the challenges it faces due to its financial health, despite today's positive price movement.