Why is Mercury Labs falling/rising?

As of 18-Jul, Mercury Laboratories Ltd's stock price is currently at 888.00, reflecting an increase of 31.75 or 3.71%. The stock has shown a trend reversal, gaining after two consecutive days of decline. It outperformed its sector by 4.26% today and reached an intraday high of Rs 888. However, the stock has underperformed in the long term, with a -0.89% return year-to-date and a significant -13.28% return over the past year, indicating weak long-term fundamental strength. The company has reported a -0.76% CAGR growth in operating profits over the last five years, and its profits have fallen by -44.5% in the past year, contributing to its expensive valuation compared to peers.
In the broader market context, the stock's short-term performance has been relatively better than the benchmark, as it has gained 4.47% over the past month while the Sensex only increased by 0.38%. Despite this, the stock's performance over the last year has been disappointing compared to the market, which generated a return of -0.36%. The falling investor participation, with a delivery volume drop of -79.81% against the 5-day average, suggests a lack of confidence among investors, further complicating the stock's outlook.