Why is Indraprastha Gas falling/rising?

As of 08-Jul, Indraprastha Gas Ltd is experiencing a price increase, currently at 227.90, reflecting a rise of 1.0 (0.44%). The stock has shown strong performance recently, gaining 4.04% over the last three days and outperforming its sector by 1.07% today. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. However, there is a notable decline in investor participation, with delivery volume dropping by 60.33% compared to the 5-day average. Despite a negative return of -13.16% over the past year, the company boasts high management efficiency with a return on equity (ROE) of 19.15% and low debt levels, which may attract institutional investors, who hold 45.85% of the stock.
In the broader market context, Indraprastha Gas has outperformed the benchmark Sensex in the short term, with a 1-week return of +5.22% compared to the Sensex's +0.02%. While the stock has struggled over the past year, underperforming the market with a significant negative return, its recent gains suggest a potential recovery phase. The attractive valuation relative to peers and the high institutional holdings may provide some support for the stock's upward movement, despite concerns about long-term growth and flat results in recent financial periods.