Why is Vodafone Idea falling/rising?

As of 24-Sep, Vodafone Idea Ltd. is currently priced at 8.60, reflecting a decrease of 0.13 or 1.49%. The stock has shown a strong performance over the past week and month, with returns of +10.54% and +21.64%, respectively. However, it has underperformed its sector today by 1.02%. Despite trading above its moving averages across various time frames, the company faces significant challenges, including a negative book value and a high debt-to-EBITDA ratio of 9.60 times, which indicates a weak long-term fundamental strength. Additionally, while institutional holdings are high at 59.13%, suggesting confidence from larger investors, the stock's profitability remains low, with an average return on equity of only 3.89%.
In the broader market context, Vodafone Idea's performance contrasts sharply with the benchmark, as it has underperformed the BSE500 over the past year, generating a return of -19.48% compared to the benchmark's -5.32%. This significant disparity highlights the stock's struggles relative to the overall market. The recent flat results and negative operating profits further contribute to the perception of risk surrounding the stock, which may deter potential investors despite the rising delivery volumes and liquidity observed recently.