Why is Vodafone Idea falling/rising?

As of 26-Jun, Vodafone Idea Ltd. is experiencing a price increase, currently at 7.25, with a change of 0.12, representing a rise of 1.68%. The stock has shown a strong performance recently, gaining 10.69% over the last three days, although it underperformed its sector by 0.62% today. Despite a year-to-date decline of 8.69% and a significant drop of 59.77% over the past year, the stock has outperformed the benchmark Sensex in the short term, with a 14.53% increase over the past week compared to the Sensex's 2.94%. The stock's liquidity appears adequate, with a delivery volume increase of 117.06% against the five-day average, and high institutional holdings at 58.98% suggest confidence from larger investors, despite the company's negative book value and high debt-to-EBITDA ratio.
Broader Market Context: The broader telecommunications sector has gained by 2.31%, indicating a favorable environment for Vodafone Idea, even as it struggles with long-term fundamentals. The stock's recent gains contrast sharply with its long-term performance, where it has consistently underperformed against the BSE 500 over various time frames, including the last three years. The company's weak profitability, as evidenced by a low return on equity and negative operating profits, presents a risk, but the recent uptick in investor participation may reflect a short-term optimism that could be driven by sector trends rather than the company's fundamentals.