Why is Mahanagar Gas falling/rising?

As of 03-Jul, Mahanagar Gas Ltd. is currently priced at 1,512.50, reflecting a slight increase of 0.8 (0.05%). The stock has shown a positive trend recently, gaining 1.94% over the last three days, although it underperformed its sector by 0.41% today. In terms of longer-term performance, Mahanagar Gas has outperformed the benchmark Sensex over the past week and month, with returns of +4.29% and +15.03%, respectively. Despite a year-to-date gain of +17.77%, the stock has faced challenges over the past year, with a decline of -10.88% in profits. The company benefits from high management efficiency, indicated by a return on equity (ROE) of 17.70%, and a low debt-to-equity ratio, which contributes to its attractive valuation relative to peers.
Broader Market Context: The stock's recent performance contrasts with the Sensex, which has seen a decline of -0.62% over the past week and a modest gain of +3.10% over the past month. This suggests that Mahanagar Gas is experiencing a stronger upward momentum compared to the broader market. Additionally, high institutional holdings at 57.58% indicate confidence from larger investors, who have increased their stake by 0.72% in the previous quarter. However, a notable decline in delivery volume by -58.59% against the five-day average raises concerns about investor participation, which could impact future price movements.