Why is Orissa Minerals falling/rising?

As of 06-Oct, Orissa Minerals Development Company Ltd is experiencing a price increase, currently at 5,800.75, which reflects a rise of 117.25 or 2.06%. The stock has shown strong performance recently, gaining 24.49% over the last three days and outperforming its sector by 2.09% today. It has also been trading above its moving averages across various time frames, indicating positive momentum. However, despite these short-term gains, the company faces significant challenges, including a negative book value, high debt levels, and poor long-term growth metrics, which have contributed to a decline of 36.78% over the past year.
In the broader market context, while the Sensex has only increased by 1.77% over the past week, Orissa Minerals has outperformed this benchmark significantly with a return of 23.81%. This stark contrast highlights the stock's recent volatility and investor interest, despite its underlying financial weaknesses. Institutional investors have reduced their stakes, indicating a lack of confidence in the company's long-term prospects, which could pose risks moving forward. Overall, while the stock is rising in the short term, the fundamental issues may overshadow its recent performance.