Why is Aban Offshore falling/rising?

As of 22-Aug, Aban Offshore Ltd's stock price is currently at 49.54, reflecting an increase of 4.29, or 9.48%. The stock has shown a strong performance today, outperforming its sector by 10.51% and opening with a gain of 2.1%. It reached an intraday high of Rs 50.13, indicating positive momentum. However, despite this short-term rise, the stock has underperformed over the past month with a decline of 2.86% and a significant year-to-date drop of 21.81%. The company faces challenges such as a negative book value, high debt levels, and poor long-term growth metrics, which contribute to its classification as a risky investment. Additionally, institutional investor participation has decreased, reflecting a lack of confidence in the company's fundamentals.
In the broader market context, Aban Offshore's recent performance contrasts sharply with the benchmark Sensex, which has only seen a slight increase of 0.88% over the past week. While the stock has gained 14.68% in the last week, its longer-term performance remains concerning, with a staggering 42.50% decline over the past year compared to the Sensex's modest gain of 0.31%. This disparity highlights the stock's volatility and the market's cautious stance towards its future prospects, especially given the company's weak financial indicators and declining institutional interest.