Why is MIRC Electronics falling/rising?

As of 29-Jul, MIRC Electronics Ltd's stock price is currently at 16.59, reflecting an increase of 0.29 or 1.78%. Today's performance indicates a trend reversal as the stock has gained after five consecutive days of decline. Despite this upward movement, the stock has underperformed in the short term, with a one-week return of -8.04% compared to the Sensex's -1.03%. The stock's delivery volume has significantly decreased, falling by 60.85% against the five-day average, indicating a decline in investor participation. Furthermore, the company has reported operating losses and weak long-term fundamentals, with net sales declining by 33.86% over the past nine months, contributing to a negative sentiment around the stock.
In the broader market context, MIRC Electronics has underperformed the market over the past year, with a return of -29.52% compared to the BSE500's negative return of -2.26%. This stark contrast highlights the stock's struggles relative to the overall market performance. Additionally, the high percentage of pledged promoter shares (34.51%) adds downward pressure in a falling market, further exacerbating the stock's challenges. While the stock is trading at a discount compared to its peers, the overall negative financial indicators and weak growth prospects continue to overshadow any recent gains.