Why is Meera Industries falling/rising?

As of 12-Jun, Meera Industries Ltd is experiencing a decline in its stock price, currently at Rs 69.47, which represents a decrease of 4.97 or 6.68%. The stock has underperformed its sector by 5.06% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 9.78%. Despite a strong performance over the past year with a return of 48.57%, recent quarterly results have shown a significant drop in profit after tax and net sales, which may be contributing to the current negative sentiment. The stock is trading at a discount compared to its peers, and while it has a favorable valuation with a low PEG ratio, the weak long-term growth indicators, such as a low average return on equity and modest sales growth, raise concerns among investors.
In the broader market context, Meera Industries has outperformed the benchmark Sensex in the short term, with a 1-week return of 16.17% compared to the Sensex's 0.31%. However, the stock's year-to-date performance shows a decline of 8.33%, contrasting with the Sensex's gain of 4.55%. This discrepancy highlights the volatility and potential risks associated with Meera Industries, especially given the recent poor quarterly results and the overall weak long-term fundamentals. The rising investor participation, as indicated by increased delivery volume, suggests some interest in the stock, but the current price movement reflects a cautious outlook among investors amid concerns about its financial health.