Why is Mega Nirman falling/rising?

As of 08-Jul, Mega Nirman & Industries Ltd is experiencing a price increase, currently at Rs 22.41, reflecting a rise of 1.06 or 4.96%. The stock has shown a positive performance today, outperforming its sector by 5.01% and gaining after two consecutive days of decline. It opened with a significant gain of 4.87% and reached an intraday high of Rs 22.41. However, despite this upward movement, the stock has seen a decline of 8.42% over the past month, although it has generated a commendable return of 28.57% over the last year, significantly outperforming the broader market returns. The company faces challenges such as operating losses and weak long-term fundamental strength, which may contribute to investor caution despite the recent price rise.
In the broader market context, the stock's short-term performance of +1.40% over the last week contrasts with the Sensex, which has remained relatively flat with a change of +0.02%. While the stock has outperformed the market over the past year, its recent operating losses and negative operating profits raise concerns about its long-term viability. Additionally, the falling investor participation, as indicated by a 51.62% drop in delivery volume compared to the five-day average, suggests that while the stock is currently rising, there may be underlying issues that could affect its stability moving forward.