Why is Adani Total Gas falling/rising?

As of 17-Jul, Adani Total Gas Ltd's stock price is currently at 661.55, reflecting an increase of 1.65 (0.25%). The stock has been gaining over the last two days, with a total return of 2.38% during this period. However, it has underperformed its sector by 0.38% today. In terms of longer-term performance, the stock has seen a 1.48% increase over the past week, while it has risen 2.32% over the last month. Despite these short-term gains, the stock has significantly underperformed over the year, with a decline of 26.82%. Factors contributing to the recent price movement include high management efficiency indicated by a ROCE of 20.46% and a strong ability to service debt with a low Debt to EBITDA ratio of 1.08 times. However, the company faces challenges such as poor long-term growth and low domestic mutual fund holdings, which may signal investor caution.
Broader market context shows that while Adani Total Gas has experienced some short-term gains, it has lagged behind the broader market, as evidenced by the Sensex's performance, which has increased by 0.83% over the past month. The stock's year-to-date performance is particularly concerning, with a decline of 13.25% compared to the Sensex's gain of 5.27%. This underperformance in the broader market context, combined with the company's flat results and low mutual fund interest, suggests that investor sentiment may still be cautious despite recent price increases.