Why is GTL falling/rising?

As of 19-Aug, GTL Ltd's stock price is currently at 9.24, reflecting an increase of 0.09 or 0.98%. The stock has been gaining for the last two days, with a total return of 1.54% during this period. However, despite this recent uptick, the stock has underperformed over the longer term, showing a decline of 8.79% over the past month and a significant drop of 25.84% year-to-date. Key concerns include a negative book value, weak long-term growth, and a high debt-to-equity ratio, which contribute to its classification as a risky investment. Additionally, 97.86% of promoter shares are pledged, which could exert further downward pressure on the stock in a declining market.
In the broader market context, GTL's short-term performance of +1.43% over the past week is slightly below the benchmark Sensex, which has increased by 1.76% during the same period. While the stock's recent gains may indicate some positive momentum, the overall trend remains concerning given its substantial losses over the past year compared to the market's modest decline of -0.14%. This underperformance highlights the challenges GTL faces in regaining investor confidence amidst its financial struggles and high levels of pledged shares.