Why is Mega Nirman falling/rising?

As of 09-Jul, Mega Nirman & Industries Ltd is experiencing a decline in its stock price, currently at 22.02, reflecting a decrease of 0.39 or 1.74%. The stock has underperformed its sector by 2.12% today, and while it is trading higher than the 50-day, 100-day, and 200-day moving averages, it is lower than the 5-day and 20-day moving averages. The stock has shown a significant drop of 11.92% over the past month, despite a strong performance over the last year with a return of 31.86%. However, the company is facing challenges such as operating losses and weak long-term fundamental strength, with an annual growth rate of operating profit at -3.43%. The recent flat results reported for June 25, including an EPS of Rs -0.54, further contribute to the negative sentiment surrounding the stock.
In the broader market context, the Sensex has shown a slight increase of 0.15% over the past week, contrasting with Mega Nirman's decline of 2.13% during the same period. While the stock has outperformed the market year-to-date with an 8.79% increase compared to the Sensex's 6.91%, the recent underperformance highlights the risks associated with the company's negative operating profits and the fact that it is trading at risky valuations compared to its historical averages. Despite rising investor participation, as evidenced by a 347.88% increase in delivery volume, the overall market conditions and the company's financial struggles are contributing to the downward pressure on the stock price.