Why is Meghmani Organi. falling/rising?

As of 26-Jun, Meghmani Organics Ltd is currently priced at 96.42, reflecting a decrease of 1.29 or 1.32%. The stock has recently underperformed its sector by 1.12% and has experienced a trend reversal, falling after two consecutive days of gains. Despite this decline, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend. The company has shown strong financial performance, with a significant growth in operating profit and net sales, and has declared positive results for the last three consecutive quarters. However, the recent price drop may be attributed to profit-taking after a period of gains.
In the broader market context, Meghmani Organics has outperformed the benchmark, generating a return of 14.96% over the past year compared to the BSE 500's return of 4.11%. This strong performance highlights the stock's resilience despite the recent price decline. The increase in investor participation, as evidenced by a 107.64% rise in delivery volume, suggests continued interest in the stock, which may support its recovery in the near future. Overall, while the stock is currently facing a short-term setback, its long-term fundamentals remain strong, positioning it favorably against the broader market.