Why is CHL falling/rising?

As of 24-Sep, CHL Ltd's stock price is currently at Rs 37.40, reflecting an increase of Rs 1.5 or 4.18%. The stock has shown strong performance recently, gaining 6.64% over the last two days and outperforming its sector by 5.03% today. It is trading above all key moving averages, indicating positive momentum. However, despite generating a return of 5.32% over the past year, the company has a negative book value and has faced challenges with declining profits, which may contribute to a perception of risk among investors.
In the broader market context, CHL Ltd has outperformed the Sensex in the short term, with a 1-week return of 6.04% compared to the Sensex's decline of 1.18%. This short-term strength contrasts with the company's year-to-date performance, which shows a decline of 12.10% against the Sensex's gain of 4.58%. The stock's recent gains may be driven by increased investor participation and positive short-term trading patterns, but the underlying issues of high debt and poor long-term growth could temper enthusiasm moving forward.