Why is Mahanagar Gas falling/rising?

As of 04-Jul, Mahanagar Gas Ltd. has experienced a price increase, currently trading at 1,542.20, reflecting a rise of 29.7 points or 1.96%. The stock has shown strong performance today, outperforming its sector by 1.48% and achieving a consecutive gain over the last four days, with a total return of 3.94% during this period. Additionally, Mahanagar Gas has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Despite a year-over-year return of -7.48%, the stock's high management efficiency, characterized by a return on equity (ROE) of 17.70% and a low debt-to-equity ratio, suggests a solid valuation. Furthermore, the increase in institutional holdings by 0.72% over the previous quarter indicates confidence from larger investors, which may support the stock's upward movement.
In the broader market context, Mahanagar Gas has outperformed the benchmark Sensex over the past week, with a return of +2.04% compared to the Sensex's -0.74%. However, the stock's performance over the past month shows a significant gain of +18.45%, while the Sensex only increased by +3.01%. This divergence highlights the stock's relative strength in a challenging market environment. Despite the recent positive trends, the falling investor participation, with a delivery volume decrease of -83.43% against the 5-day average, raises concerns about liquidity and future momentum. Overall, while Mahanagar Gas is currently rising, the mixed signals regarding investor participation and historical performance warrant a cautious outlook.