Why is Mega Nirman falling/rising?

As of 17-Jul, Mega Nirman & Industries Ltd is currently priced at 23.05, reflecting an increase of 0.56 or 2.49%. The stock has shown a positive trend recently, gaining for the last two days with a total return of 4.77% during this period. Despite this short-term gain, the stock has underperformed in the past week and month, with declines of 1.83% and 8.68%, respectively. It is noteworthy that the stock has outperformed its sector by 2.82% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there are concerns regarding falling investor participation, as delivery volume has decreased significantly. Additionally, the company faces challenges with operating losses and weak long-term fundamental strength, which could impact investor sentiment despite its recent price increase.
In the broader market context, the stock's performance over the past year has been strong, with a return of 44.06%, significantly outpacing the benchmark's return of 1.91%. However, in the short term, the stock's performance has been less favorable compared to the benchmark, as it has declined more than the Sensex over the past week and month. The company's operating losses and negative operating profits raise concerns about its long-term viability, which may contribute to a cautious outlook among investors despite the recent price rise.