Why is M T N L falling/rising?

As of 16-Sep, Mahanagar Telephone Nigam Ltd (MTNL) is experiencing a slight increase in its stock price, currently at 44.98, with a change of 0.07, reflecting a 0.16% rise. The stock has shown a positive performance over the last two days, gaining 2.32%, although it underperformed its sector by 1.4% today. In terms of longer-term performance, the stock has risen by 1.40% over the past week and 6.26% over the past month, but it has significantly underperformed over the year with a decline of 20.64%. The company faces challenges, including a negative book value, high debt levels, and poor long-term growth, which have contributed to its weak fundamental strength and negative results in recent quarters.
Broader market context indicates that while the stock has shown some short-term gains, it has lagged behind the benchmark Sensex, which has risen by 1.58% over the past week and 2.21% over the past month. The stock's performance has been notably weaker over the past year compared to the broader market, which has only declined by 0.73%. The lack of domestic mutual fund investment, which stands at 0%, suggests a lack of confidence in the company's prospects, further complicating its position in the market. Overall, despite recent gains, the stock's long-term outlook remains precarious due to its financial struggles and underperformance relative to market benchmarks.