Why is Mega Corp. falling/rising?

As of 18-Jul, Mega Corporation Ltd's stock price is currently at 2.79, reflecting an increase of 0.05 or 1.82%. The stock has shown strong performance recently, gaining 5.68% over the last three days and outperforming its sector by 2.11% today. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. Despite this, there has been a decline in investor participation, with delivery volume falling by 37.62% against the 5-day average. The company has demonstrated impressive long-term performance, generating a return of 58.58% over the past year and outperforming the BSE500 in the last three years, one year, and three months. However, it faces challenges with weak long-term fundamental strength, as indicated by an average Return on Equity (ROE) of 1.07% and a high Price to Book Value of 2.3.
In the broader market context, Mega Corporation's short-term return of 1.82% over the past week contrasts sharply with the Sensex, which has declined by 0.90% during the same period. This suggests that the stock is benefiting from specific factors that are driving its price up, even as the overall market experiences a downturn. The company's recent positive financial results, including the highest recorded ROCE and PBDIT, contribute to its rising stock price, despite the noted decline in profits over the past year. Thus, while the stock is currently on an upward trajectory, concerns about its long-term valuation and fundamental strength remain pertinent.