Why is Mercantile Vent. falling/rising?

As of 12-Sep, Mercantile Ventures Ltd is currently priced at 32.00, reflecting a decrease of 0.07, or 0.22%. The stock has recently underperformed its sector by 1.42% and has experienced a trend reversal, falling after two consecutive days of gains. Despite this decline, the stock has shown strong performance over various periods, with a 7.74% increase over the past week and a 19.00% increase over the past month. Key financial metrics indicate positive growth, with net sales for the last nine months rising by 21.59% and a profit after tax of Rs 10.07 crore. The stock is trading at a fair valuation compared to its peers, which may contribute to its resilience despite the recent price drop.
In the broader market context, Mercantile Ventures Ltd has outperformed the Sensex, with a year-to-date return of 39.07% compared to the benchmark's 4.82%. This strong performance over the long term, including a 50.23% increase over three years, suggests that the stock has been a favorable investment relative to the market. However, the recent decline in price may reflect short-term volatility, particularly as it has fallen after a brief period of gains. The rising investor participation, indicated by a significant increase in delivery volume, suggests continued interest in the stock, which may help stabilize its price in the near future.