Why is SpiceJet falling/rising?

As of 13-Aug, SpiceJet Ltd's stock price is currently at 34.37, reflecting a slight increase of 0.09 or 0.26%. The stock has been gaining momentum recently, with a consecutive gain over the last two days and an overall return of 8.49% during this period. However, despite this short-term uptick, the stock has underperformed its sector by 0.44% today. Over the past week, SpiceJet has shown a positive return of 2.44%, contrasting with a decline of 10.33% over the past month. The company has a negative book value and a weak long-term fundamental strength, evidenced by a significant annual decline in net sales and stagnant operating profit over the last five years. Additionally, the high debt-to-equity ratio and the fact that 42.18% of promoter shares are pledged contribute to the stock's risk profile, which may deter some investors.
In the broader market context, SpiceJet's recent performance contrasts with the benchmark Sensex, which has remained relatively flat with a change of -0.01% over the past week. While the stock has shown some short-term recovery, its long-term performance remains concerning, with a staggering decline of 39.10% over the past year compared to the Sensex's gain of 2.01% during the same period. This underperformance, coupled with the company's high debt levels and negative EBITDA, suggests that while there may be short-term gains, the overall outlook for SpiceJet remains precarious in the context of broader market trends.