Why is Megri Soft falling/rising?

As of 18-Sep, Megri Soft Ltd's stock price is currently at Rs 103.90, reflecting a decrease of Rs 1.05 or 1.0%. The stock has underperformed today, with a performance that is 1.7% lower than its sector. It reached an intraday low of Rs 100.25, marking a decline of 4.48%. The stock has shown a negative trend over the past week and month, with returns of -3.57% and -4.68%, respectively. Additionally, the stock has consistently underperformed against the benchmark, with a year-to-date decline of 45.06% compared to a 6.24% gain in the Sensex. The company's weak long-term fundamentals, characterized by a low return on equity of 2.58% and poor growth in net sales and operating profit, contribute to its declining stock price. Furthermore, the stock is trading at a premium compared to its peers, which exacerbates its valuation concerns.
In the broader market context, Megri Soft's short-term performance contrasts sharply with the benchmark, as it has underperformed the Sensex by a significant margin. While the Sensex has gained 1.80% over the past week, Megri Soft has seen a decline, indicating a lack of investor confidence in the stock. The rising investor participation, as indicated by a 10.76% increase in delivery volume, suggests some interest, but it is not sufficient to counteract the overall negative sentiment surrounding the stock. The company's flat results and low cash reserves further highlight its challenges, reinforcing the perception of it being a strong sell in the current market environment.