Why is Meghna Infracon falling/rising?

As of 28-Jul, Meghna Infracon Infrastructure Ltd is experiencing a decline in its stock price, currently at Rs 571.00, which reflects a decrease of Rs 7.95 or 1.37%. The stock has shown a mixed performance recently, with a 1-week decline of 1.50% and a 1-month increase of 2.06%. Despite today's intraday low of Rs 566.2, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is lower than its 5-day moving average. Additionally, there has been a notable decrease in investor participation, with delivery volume dropping by 14.39% compared to the 5-day average. However, the company has demonstrated strong long-term fundamentals, with an average Return on Equity (ROE) of 26.69% and significant growth in profit after tax and earnings per share in recent results.
In the broader market context, the stock's short-term performance has been slightly better than the benchmark, with the Sensex declining by 1.59% over the past week. Despite this, Meghna Infracon has outperformed the benchmark over longer periods, including a remarkable 147.72% return over the past year and a staggering 2470.91% over the last three years. The increasing participation of institutional investors, who have raised their stake by 5.32%, indicates confidence in the company's fundamentals, which may help stabilize the stock despite the recent price decline. Overall, while the stock is currently facing downward pressure, its strong historical performance and institutional backing suggest potential for recovery in the future.