Why is Mahanagar Gas falling/rising?

As of 08-Jul, Mahanagar Gas Ltd. is experiencing a decline in its stock price, currently at Rs 1,514.55, which reflects a decrease of Rs 25.75 or 1.67%. The stock has underperformed its sector by 1.04% today and has been on a downward trend for the last two days, accumulating a total decline of 1.79%. Despite this recent fall, the stock has shown positive performance over the past week and month, with increases of 1.58% and 13.79%, respectively. However, it has underperformed over the past year, with a return of -9.61%. The stock is trading above its moving averages, indicating some strength, but there has been a notable decline in investor participation, with delivery volume dropping by 23.67% compared to the five-day average.
In the broader market context, Mahanagar Gas has underperformed relative to the benchmark, as the Sensex has only seen a marginal increase of 0.02% over the past week. The company has high institutional holdings at 57.58%, which suggests confidence from larger investors, yet it has faced challenges such as poor long-term growth and a decline in profits. The stock's valuation remains attractive with a low Price to Book Value and high ROE, but the recent negative returns and flat quarterly results indicate underlying weaknesses that may be contributing to the current price decline.