Why is Mahanagar Gas falling/rising?

As of 01-Jul, Mahanagar Gas Ltd. is experiencing a price increase, currently at 1,491.05, reflecting a rise of 7.3 or 0.49%. The stock has shown strong performance recently, with a 5.48% increase over the past week and a 12.43% increase over the past month, significantly outperforming the Sensex, which rose by only 2.00% and 2.76% in the same periods, respectively. Additionally, the stock is trading above all its moving averages, indicating a positive trend. The rising investor participation, evidenced by a 24.1% increase in delivery volume, suggests growing confidence among investors. The company also boasts high management efficiency with a return on equity (ROE) of 17.70% and a low debt-to-equity ratio, making it an attractive investment despite a year-over-year profit decline of 18.9%.
In the broader market context, Mahanagar Gas has outperformed the benchmark index in the short term, with its recent returns significantly exceeding those of the Sensex. The stock's performance is further supported by high institutional holdings at 57.58%, indicating that knowledgeable investors are backing the company, as their stake has increased by 0.72% over the previous quarter. Despite the stock's decline of 14.61% over the past year, its current valuation remains appealing, trading at a discount compared to peers, which may contribute to the positive sentiment driving the recent price increase.