Why is Meera Industries falling/rising?

As of 09-Jun, Meera Industries Ltd's stock price is currently at Rs 69.60, reflecting an increase of 6.0, or 9.43%. The stock has been on a positive trajectory, gaining for the last seven days and achieving a total return of 19.53% during this period. Despite opening lower today with a loss of 4.84%, it reached an intraday high of Rs 74, showcasing significant volatility with a wide trading range of Rs 13.48. The stock's performance over the past year has been strong, generating a return of 47.83%, which is considerably higher than the market's average return of 6.38%. The technical indicators suggest a mildly bullish trend, supported by improved investor participation and attractive valuation metrics, including a return on capital employed (ROCE) of 12.7 and a low PEG ratio of 0.1.
In the broader market context, Meera Industries has outperformed the benchmark index, Sensex, significantly in the short term, with a one-week return of 18.17% compared to Sensex's 1.32%. This strong performance contrasts with its year-to-date decline of 8.16%, indicating a recent recovery phase. However, the stock's long-term fundamentals show weaknesses, such as a low return on equity (ROE) of 7.13% and flat results in the latest quarter, which may raise concerns among investors. Despite these challenges, the stock's recent gains and bullish technical indicators suggest a positive sentiment in the short term, driven by improved profitability and market-beating performance.