Why is Mahanagar Gas falling/rising?

As of 02-Jul, Mahanagar Gas Ltd. is experiencing a price increase, currently at 1,511.70, reflecting a rise of 20.65 or 1.38%. The stock has shown a positive trend, gaining 1.88% over the last two days and outperforming the benchmark Sensex with a weekly return of 4.61% compared to the Sensex's 0.79%. Despite a decline in delivery volume by 37.78% against the 5-day average, the stock remains liquid enough for trading, and it is currently trading above all key moving averages, indicating strong momentum. The company's high management efficiency, evidenced by a return on equity (ROE) of 17.70%, and a low debt-to-equity ratio contribute to its attractive valuation, as it trades at a discount to its peers. Additionally, institutional holdings have increased, suggesting confidence from larger investors.
In the broader market context, Mahanagar Gas has significantly outperformed the Sensex over the past month, with a return of 14.65% compared to the benchmark's 2.50%. This strong performance may reflect positive sentiment in the sector, as the stock's recent gains align with broader market trends. However, it is important to note that the stock has underperformed over the past year, with a return of -11.46%, which contrasts with the Sensex's 5.00% gain. This discrepancy highlights the stock's volatility and the potential impact of broader economic factors on its long-term performance.