Why is Meghmani Organi. falling/rising?

As of 02-Jul, Meghmani Organics Ltd is currently priced at 100.71, reflecting a decrease of 1.3 points or 1.27%. The stock has recently experienced a trend reversal, falling after three consecutive days of gains. Despite this decline, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend. The stock has shown strong performance over the past week, with a return of 3.07%, and a remarkable 15.79% increase over the past month. The company has reported significant growth in operating profit and net sales, which have contributed to its positive valuation compared to peers. However, the recent price drop may reflect profit-taking after a period of gains.
In the broader market context, Meghmani Organics Ltd has outperformed the benchmark, generating a return of 22.80% over the past year compared to the BSE500's return of 3.11%. This strong performance may have attracted investor interest, as evidenced by a 42.06% increase in delivery volume on July 1. Despite the current decline, the stock remains liquid enough for trading, suggesting ongoing investor participation. The overall market sentiment appears to be supportive of the stock, given its strong fundamentals and attractive valuation, even as it faces a temporary setback in price.