Why is Meera Industries falling/rising?

As of 09-Oct, Meera Industries Ltd is experiencing a decline in its stock price, currently at Rs 63.40, which reflects a decrease of 4.79 (-7.02%). The stock has been underperforming, with a consecutive fall over the last two days resulting in a total decline of 7.16%. It has also underperformed its sector by 6.73%. The stock is trading below all its moving averages, indicating a bearish trend. Over the past year, Meera Industries has generated a return of -50.31%, despite a significant profit increase of 59.2%, which highlights a disconnect between stock performance and profitability. The company's weak long-term fundamentals, characterized by an average Return on Equity (ROE) of 7.13% and slow growth in net sales and operating profit, further contribute to the negative sentiment surrounding the stock.
In the broader market context, Meera Industries has significantly underperformed compared to the benchmark, with a 1-week return of -5.36% against the Sensex's gain of 1.47%. This trend of underperformance extends over multiple time frames, including a 1-month return of -8.66% compared to the Sensex's 1.32% increase and a year-to-date return of -16.34% versus the Sensex's 5.16%. The stock's liquidity remains adequate for trading, but falling investor participation, as evidenced by a decrease in delivery volume, suggests waning interest among investors. Overall, the combination of poor short-term performance, weak long-term fundamentals, and a lack of investor confidence is contributing to the stock's decline.