Why is Mahamaya Steel falling/rising?

As of 31-Jul, Mahamaya Steel Industries Ltd is experiencing a decline in its stock price, currently at Rs 359.40, which reflects a decrease of Rs 4.6 or 1.26%. The stock has been underperforming recently, having fallen consecutively for the last two days, resulting in a total drop of 3.17%. It opened the day with a significant loss of 6.58% and reached an intraday low of Rs 340. Despite this downturn, the stock has shown strong performance over the longer term, with a remarkable 239.38% return over the past year and a 458.94% increase over three years. The company's recent financial results have been very positive, showcasing a net profit growth of 307.77% and a substantial increase in net sales, which may provide some support for the stock despite its current decline.
In the broader market context, Mahamaya Steel's recent performance contrasts with the benchmark, as it has outperformed the Sensex over the past year, which has only seen a slight decline of 0.68%. However, in the short term, the stock's performance has lagged behind the benchmark, with a 1-week return of -0.39% compared to the Sensex's -1.22%. This suggests that while the stock has been a strong performer historically, its recent price movements may be influenced by a combination of falling investor participation and a temporary dip in market sentiment, leading to its current decline.