Why is SpiceJet falling/rising?

As of 22-Sep, SpiceJet Ltd's stock price is currently at Rs 31.39, reflecting a decrease of Rs 0.45 or 1.41%. The stock has been underperforming significantly, having fallen consecutively for the last four days, resulting in a total decline of 3.98%. It is also trading close to its 52-week low, just 0.45% away from Rs 31.25. Over the past week, the stock has decreased by 3.24%, and its year-to-date performance shows a staggering decline of 43.34%. The company is facing severe challenges, including a negative book value, high debt levels, and poor long-term growth metrics, with net sales declining at an annual rate of 13.69%. Additionally, the stock's negative EBITDA and a significant portion of promoter shares being pledged further contribute to its downward pressure.
In the broader market context, SpiceJet's performance contrasts sharply with the benchmark Sensex, which has gained 0.46% over the past week. While the Sensex has shown a positive return, SpiceJet's substantial losses highlight its struggles in both short-term and long-term performance, with a one-year return of -52.55% compared to the Sensex's decline of only 2.82%. The stock's liquidity appears adequate for trading, but the overall sentiment remains negative due to its weak fundamentals and recent poor performance relative to the market.