Why is Adani Total Gas falling/rising?

As of 08-Aug, Adani Total Gas Ltd's stock price is currently at 584.50, reflecting a decrease of 7.25, or 1.23%. The stock has underperformed the sector today by 2.01%, and it is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has declined by 1.79%, and it has experienced significant losses over longer periods, with a year-to-date decline of 23.35% and a staggering 82.61% drop over the last three years. Despite the company's high management efficiency, indicated by a return on capital employed (ROCE) of 20.46%, and a strong ability to service debt with a low Debt to EBITDA ratio of 1.08 times, the stock's performance has been hampered by flat results in June 2025 and a low stake held by domestic mutual funds, which may indicate a lack of confidence at current price levels.
In the broader market context, Adani Total Gas has underperformed the benchmark Sensex, which has shown a positive return of 2.20% year-to-date, while the stock has declined by 23.35% in the same period. The company's recent performance, including a 33.63% drop in the last year, contrasts sharply with the benchmark's stability, highlighting investor concerns regarding its long-term growth potential. The stock's liquidity remains adequate for trading, but the falling investor participation, as evidenced by a decrease in delivery volume, suggests waning interest among investors, further contributing to its price decline.