Why is Meghna Infracon falling/rising?

As of 07-Jul, Meghna Infracon Infrastructure Ltd is experiencing a slight increase in its stock price, currently at Rs 1,121.25, reflecting a change of 1.05 (0.09%) upward. The stock has shown a positive trend recently, gaining for the last three consecutive days with a total return of 0.95% during this period. It reached an intraday high of Rs 1,149, which is a 2.57% increase. Furthermore, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. The company has demonstrated robust long-term fundamental strength, with an average Return on Equity (ROE) of 26.69%. Positive quarterly results, including the highest Profit After Tax (PAT) and Earnings Per Share (EPS) reported, have contributed to the stock's favorable performance. Over the past year, it has generated a remarkable 146.51% return, significantly outperforming the BSE500 index.
In the broader market context, Meghna Infracon's short-term performance has been favorable compared to the benchmark, as it has gained 0.29% over the past week while the Sensex has declined by 0.20%. Additionally, the stock has outperformed the benchmark over longer periods, including a 5.08% increase in the last month versus a 1.53% rise in the Sensex, and an impressive 55.73% year-to-date return compared to the Sensex's 6.79%. The rising investor participation, evidenced by a 63.76% increase in delivery volume, further supports the stock's upward movement, indicating strong market interest and liquidity.