Why is Mercantile Vent. falling/rising?

As of 31-Jul, Mercantile Ventures Ltd is experiencing a price increase, currently at Rs 28.07, reflecting a rise of Rs 1.47 or 5.53%. Today's performance indicates a trend reversal as the stock has gained after five consecutive days of decline. It has outperformed its sector by 6.07% today and reached an intraday high of Rs 31.92, showcasing significant volatility with an intraday fluctuation of 8.61%. Over the past month, the stock has shown a positive return of 13.74%, contrasting with the Sensex's decline of 3.00%. Additionally, the company reported strong quarterly results, with net sales growing by 25.15% and a substantial increase in profits, which has contributed to its attractive valuation and positive sentiment among investors.
In the broader market context, while Mercantile Ventures Ltd has outperformed the Sensex in both the short and long term, it has faced a decline of 8.57% over the past week compared to the Sensex's smaller drop of 1.22%. Despite this recent short-term underperformance, the stock has generated a year-to-date return of 21.99%, significantly higher than the Sensex's 3.90%. The stock's long-term performance remains strong, with a 54.23% increase over the past three years, indicating resilience and a favorable outlook compared to the broader market.