Why is CHL falling/rising?

As of 03-Nov, CHL Ltd's stock price is currently at Rs 37.57, reflecting an increase of Rs 1.78 or 4.97%. The stock has shown a strong performance today, outperforming its sector by 4.29% and has gained consecutively over the last two days, accumulating a total return of 7.13%. It opened with a significant gap up of 7.26% and reached an intraday high of Rs 38.39. However, the stock has also experienced high volatility, trading within a wide range of Rs 5.34, and has seen a notable decline in investor participation, with delivery volume dropping by 78.03% compared to the five-day average. Despite these positive short-term movements, the company faces challenges such as a negative book value and weak long-term fundamentals, including stagnant net sales growth and high debt levels.
In the broader market context, CHL Ltd's short-term return of 0.48% over the past week contrasts with the Sensex, which has declined by 0.94%. While CHL has performed well in the short term, its year-to-date performance shows a decline of 11.70%, significantly underperforming the Sensex's gain of 7.47%. The company's weak long-term growth prospects, as indicated by its negative book value and declining profits, suggest that while the stock may be experiencing a temporary rise, underlying fundamental issues could pose risks for sustained growth.