Why is Adani Total Gas falling/rising?

As of 29-Aug, Adani Total Gas Ltd's stock price is currently at 590.55, reflecting a decrease of 1.5, or 0.25%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 6.86% during this period. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite a significant increase in delivery volume, which rose by 368.24% against the 5-day average, the stock's overall performance has been disappointing, with a year-to-date decline of 22.56% and a staggering 29.46% drop over the past year. Factors such as a low Debt to EBITDA ratio and strong sales growth indicate potential, but recent flat results and low domestic mutual fund holdings suggest a lack of confidence among investors.
In the broader market context, Adani Total Gas has underperformed the Sensex, which has seen a decline of only 1.84% over the same one-week period, while the stock itself has dropped by 4.51%. This consistent underperformance against the benchmark over the last three years, coupled with a significant drop in returns, raises concerns among investors. The company's management efficiency and ability to service debt are positive aspects; however, the flat results reported in June and the lowest ROCE in the first half of the year at 16.15% contribute to the negative sentiment surrounding the stock. Overall, the combination of these factors has led to a decline in investor confidence, resulting in the stock's recent downward movement.