Why is Meera Industries falling/rising?

As of 17-Oct, Meera Industries Ltd is experiencing a price increase, currently at Rs 62.99, reflecting a rise of 5.73 or 10.01%. The stock has shown a positive performance today, outperforming its sector by 9.69% and achieving a consecutive gain over the last two days with a total return of 10.41%. Despite this recent uptick, the stock has faced challenges, with a one-week return of -0.65% and a one-month return of -7.38%. Additionally, while the stock has generated a significant negative return of -44.28% over the past year, it has seen a profit increase of 59.2%, indicating an attractive valuation despite its current struggles. The stock is trading at a discount compared to its peers, but it also faces weak long-term fundamentals, including a low average Return on Equity (ROE) of 7.13%.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has gained 1.76% over the past week. This underperformance relative to the benchmark highlights the stock's volatility and challenges in maintaining investor interest, as indicated by a significant drop in delivery volume. The stock's high volatility today, with an intraday fluctuation of 6.58%, further emphasizes the uncertainty surrounding its future performance. Overall, while Meera Industries has shown a short-term rebound, its long-term outlook remains concerning, as evidenced by its historical underperformance against broader market indices.