Why is Vodafone Idea falling/rising?

As of 24-Oct, Vodafone Idea Ltd. is experiencing a price increase, with its current price at 9.62, reflecting a change of 0.1 or 1.05% upward. The stock has been gaining for the last four days, with a notable return of 10.57% over the past week. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Additionally, there has been a significant rise in investor participation, as evidenced by a delivery volume increase of 245.29% against the 5-day average. Despite the positive momentum, the company faces challenges, including a negative book value and a high Debt to EBITDA ratio of 9.60 times, which raises concerns about its long-term fundamental strength.
In the broader market context, Vodafone Idea's performance has outpaced the benchmark, with a 1-year return of 18.33% compared to the BSE500's 3.49%. This market-beating performance, coupled with high institutional holdings at 59.74%, suggests that informed investors are optimistic about the stock's potential despite its underlying financial issues. However, the company's negative net worth and reported losses indicate that it must either raise fresh capital or achieve profitability to sustain its recent gains. Overall, while the stock is currently rising, its long-term outlook remains uncertain due to these financial challenges.