Why is Mega Nirman falling/rising?

As of 01-Jul, Mega Nirman & Industries Ltd is experiencing a decline in its stock price, currently at 22.10, which reflects a decrease of 0.99 or 4.29%. The stock has been underperforming, having fallen consecutively for the last two days with a total return of -4.74% during this period. Despite a positive performance over the past year, where it generated an 18.31% return compared to the market's 3.20%, the company faces challenges such as operating losses and weak long-term fundamental strength. The stock is trading at a premium valuation with a Price to Book Value of 1.7, which may deter investors given its low return on equity of 0.9 and negative growth in operating profit.
In the broader market context, the stock's short-term performance has lagged behind the benchmark, with a 1-week return of +0.45% compared to the Sensex's +2.00%. Although the stock has shown some resilience with a year-to-date return of 9.19%, the recent price drop indicates investor concerns regarding its operational performance and valuation metrics. Additionally, while there has been a rise in investor participation, as evidenced by a 25.2% increase in delivery volume, the overall sentiment remains cautious due to the company's financial challenges and the recent underperformance relative to its sector.