Why is Mena Mani Inds. falling/rising?

As of 02-Jul, Mena Mani Industries Ltd is experiencing a decline in its stock price, currently at 7.20, which reflects a decrease of 0.15 or 2.04%. The stock has underperformed its sector by 0.81% today and has shown a trend reversal after two consecutive days of gains. Despite trading above its moving averages across various time frames, the stock's recent performance has been mixed, with a 1-week return of 5.11% and a 1-month return of 25.00%. However, it has struggled over the longer term, with a year-to-date return of -0.28% and a significant decline of -20.18% over the past year. Positive factors include consistent quarterly results with higher net sales and profit after tax, but the company also faces challenges such as a negative book value and weak long-term growth prospects.
In the broader market context, while Mena Mani Industries has shown some short-term strength, it has consistently underperformed against the benchmark, with a 3-year return of -37.39% compared to the Sensex's 57.65%. The stock's recent decline can be attributed to its negative book value and the perception of being a risky investment, especially given its historical underperformance and declining profits over the past year. This combination of factors suggests that despite some positive short-term movements, the overall sentiment around the stock remains cautious, contributing to its current price drop.