Why is SpiceJet falling/rising?

As of 29-Jul, SpiceJet Ltd's stock price is currently at Rs. 37.77, reflecting an increase of 0.39 or 1.04%. The stock has recently outperformed its sector by 0.84%, gaining after three consecutive days of decline. However, it has hit a new 52-week low of Rs. 37.2 today. Over the past week, the stock has decreased by 0.87%, and it has shown a significant decline of 31.82% year-to-date. Despite some positive indicators such as the highest operating profit to interest ratio at 1.27 times and a low debt-equity ratio of -2.17 times, the company faces challenges with a negative book value and weak long-term growth, as evidenced by a -15.41% annual rate in net sales over the last five years.
In the broader market context, the Sensex has decreased by 1.03% over the past week, indicating a slightly better performance for SpiceJet relative to the benchmark. However, the stock's long-term performance remains concerning, with a decline of 35.16% over the past year, underperforming the BSE500 index. The high percentage of pledged promoter shares, which stands at 42.18%, adds to the stock's risk profile, particularly in a falling market. Overall, while there are some short-term gains, the underlying fundamentals and long-term outlook for SpiceJet suggest continued challenges ahead.