Why is Mega Nirman falling/rising?

As of 24-Jun, Mega Nirman & Industries Ltd is experiencing a decline in its stock price, currently at 22.00, reflecting a decrease of 0.5 or 2.22%. The stock has underperformed its sector by 3.14% today and has been on a downward trend for the last three days, accumulating a total loss of 9.65% during this period. Additionally, the stock's performance over the past week shows a significant decline of 12.84%, contrasting with a modest gain of 6.28% over the past month. The company's operating losses and weak long-term fundamental strength, highlighted by a negative annual growth rate in operating profit of -2.09%, contribute to the stock's poor performance. Furthermore, the stock is trading at a premium compared to its peers, with a high Price to Book Value of 1.7, indicating an expensive valuation relative to its historical averages.
In the broader market context, the Sensex has shown a slight increase of 0.58% over the past week, while Mega Nirman has significantly lagged behind with its substantial decline. The stock's recent performance is further compounded by falling investor participation, as evidenced by a 75.65% drop in delivery volume compared to the five-day average. Although the stock has generated a return of 12.02% over the past year, this is overshadowed by the company's weak fundamentals and the flat results reported in March 2025. Overall, the combination of poor short-term performance, high valuation, and declining investor interest suggests a challenging environment for Mega Nirman & Industries Ltd.