Why is Meghmani Organi. falling/rising?

As of 17-Sep, Meghmani Organics Ltd is experiencing a price increase, currently at 84.75, reflecting a change of 0.45 (0.53%) upward. The stock has shown strong performance recently, outperforming its sector by 0.44% today and achieving a consecutive gain over the last three days with a total return of 5.97%. The stock's performance over the past week has been positive, with a return of +4.24%, while it has also outperformed the benchmark Sensex, which gained only +1.56% in the same period. Positive financial results, including a significant growth in profit before tax and net sales, along with an attractive valuation compared to peers, have contributed to the stock's upward movement. However, it is important to note that the company has shown weak long-term fundamental strength, with a decline in operating profits over the last five years, which may temper investor enthusiasm.
Broader market context indicates that while Meghmani Organics has performed well in the short term, it has consistently underperformed against broader benchmarks over the last three years, with a return of -19.90% in the past year compared to a slight decline of -0.46% for the Sensex. Despite the recent gains, the stock's long-term performance remains a concern, particularly given the lack of domestic mutual fund investment, which may signal caution among institutional investors. Overall, while the recent positive financial results and short-term gains provide some optimism, the stock's long-term challenges and underperformance against the benchmark suggest a complex outlook.