Why is M T N L falling/rising?

As of 30-Jun, Mahanagar Telephone Nigam Ltd (MTNL) is experiencing a price increase, currently at 52.36, reflecting a change of 0.42 (0.81%) upward. The stock has shown a strong performance today, outperforming its sector by 1.52% and reversing a trend after two consecutive days of decline. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive short-term trend. Over the past year, MTNL has generated a return of 24.02%, significantly outperforming the BSE 500 index over the same period. However, the company faces challenges, including a negative book value and poor long-term growth, with net sales declining at an annual rate of -15.53% over the last five years, which may contribute to investor caution despite recent gains.
In the broader market context, MTNL's short-term return of +10.05% over the past week significantly exceeds the Sensex's return of +2.09% during the same period. This strong performance relative to the benchmark suggests that investor sentiment may be temporarily buoyed by recent price movements, despite underlying concerns about the company's long-term fundamentals, such as high debt levels and negative EBITDA. The falling investor participation, indicated by a 45.21% drop in delivery volume, raises questions about sustained interest in the stock, particularly given that domestic mutual funds hold no stake in the company, which may signal a lack of confidence in its future prospects.