Why is Mena Mani Inds. falling/rising?

As of 23-Jul, Mena Mani Industries Ltd is experiencing a price increase, currently at Rs. 8.52, reflecting a change of 0.06 or 0.71% upward. The stock has shown strong performance recently, gaining 9.23% over the last three days and achieving a new 52-week high of Rs. 8.88. It has outperformed the benchmark with a 5.32% increase over the past week and a notable 23.30% rise over the past month. The company has reported positive results for the last four consecutive quarters, with net sales higher at Rs. 14.14 crore and a profit after tax of Rs. 0.21 crore for the last nine months. However, it faces challenges due to a negative book value and weak long-term fundamental strength, which may contribute to its risky trading status.
In the broader market context, Mena Mani Industries Ltd's recent short-term returns significantly outpace the Sensex, which has only increased by 0.11% over the past week and 1.01% over the past month. Despite the stock's recent gains, it has underperformed against the benchmark over the last three years, with a decline of 22.55% compared to the Sensex's 47.54% increase. This consistent underperformance, coupled with a negative book value and declining profits over the past year, suggests that while the stock is currently rising, it remains a risky investment in the long term.