Why is Mena Mani Inds. falling/rising?

As of 24-Jul, Mena Mani Industries Ltd is currently priced at Rs. 8.45, reflecting a decrease of Rs. 0.07 or 0.82%. The stock recently reached a new 52-week high of Rs. 8.9 but has experienced a trend reversal, falling after three consecutive days of gains. Despite this recent decline, the stock has shown strong performance over the past month, with a return of 23.36%, significantly outperforming the Sensex, which only gained 0.16%. The company has reported positive results for the last four consecutive quarters, with net sales increasing to Rs. 14.14 crore and a profit after tax of Rs. 0.21 crore for the last nine months. However, the stock is also characterized by a negative book value and weak long-term fundamental strength, which raises concerns about its sustainability.
In the broader market context, Mena Mani Industries Ltd has outperformed the benchmark in the short term, with a 5.62% return over the past week compared to a slight decline of 0.09% for the Sensex. However, the stock has consistently underperformed against the benchmark over the last three years, with a return of -1.40% in the past year, while the BSE500 has seen a gain of 2.54%. This underperformance, combined with the company's risky profile due to its negative book value and declining profits, contributes to the stock's volatility and may deter some investors despite recent positive sales figures.