Why is T N Telecom. falling/rising?

As of 30-Jun, Tamil Nadu Telecommunications Ltd's stock price is rising, currently at Rs 13.47, reflecting an increase of Rs 2.08 or 18.26%. The stock has shown strong performance today, outperforming its sector by 18.29%, and reached an intraday high of Rs 13.47. Over the past week, the stock has increased by 13.00%, and it has delivered a remarkable 38.87% return over the last month. Despite this positive movement, there are concerns regarding falling investor participation, as delivery volume has decreased significantly. Additionally, the company has a negative book value and high debt levels, which contribute to its weak long-term fundamental strength, despite its recent price surge.
Broader market context indicates that while Tamil Nadu Telecommunications Ltd has outperformed the benchmark Sensex in both the short and long term, with a 27.32% return over the past year compared to the Sensex's 5.79%, the stock's volatility remains high. The stock's performance today is notable, but the overall market conditions and the company's financial health, including a negative EBITDA and stagnant net sales growth, suggest that the stock is trading at a risky valuation. This juxtaposition of strong short-term gains against a backdrop of fundamental weaknesses creates a complex picture for investors.