Why is Vodafone Idea falling/rising?

As of 01-Jul, Vodafone Idea Ltd. has experienced a slight increase in its stock price, currently at 7.46, reflecting a change of 0.02 (0.27%) upward. The stock has been on a positive trajectory, gaining for the last six days with a total return of 13.89% during this period. However, it has underperformed its sector by 0.26% today. Despite this recent uptick, the stock's long-term performance remains concerning, with a year-to-date decline of 6.05% and a staggering drop of 57.69% over the past year. The company has a high institutional holding of 58.98%, which has increased by 21.34% in the previous quarter, indicating some confidence from larger investors. Nonetheless, the company faces significant challenges, including a negative book value and a high Debt to EBITDA ratio of 9.60 times, which suggests a weak long-term fundamental strength.
In the broader market context, Vodafone Idea's recent performance contrasts with the benchmark Sensex, which has risen by 2.00% over the past week and 2.76% over the past month. While Vodafone Idea's short-term return of 8.59% over the last week is notable, it still lags behind the overall market performance. The stock's liquidity is adequate for trading, but the delivery volume has decreased significantly, indicating a potential decline in investor interest. Overall, the stock's recent gains are overshadowed by its long-term underperformance and ongoing financial struggles, making it a risky investment despite the recent positive momentum.