Why is Mahanagar Gas falling/rising?

As of 17-Jul, Mahanagar Gas Ltd. is experiencing a price increase, currently at 1,520.20, reflecting a rise of 43.3 points or 2.93%. The stock has outperformed its sector today by 2.3%, reaching an intraday high of Rs 1526.05. Over the past week, Mahanagar Gas has shown a return of +2.71%, and for the month, it has increased by +6.23%. Despite a year-to-date return of +18.37%, the stock has faced challenges over the past year with a decline of -12.53%. The company benefits from high management efficiency, indicated by a return on equity (ROE) of 17.7%, and a low debt-to-equity ratio, which enhances its attractiveness. However, it has also seen a decrease in profits by -18.9% over the last year, contributing to its underperformance relative to the broader market.
In the broader market context, Mahanagar Gas has outperformed the Sensex, which has declined by -1.12% over the past week and only gained +0.83% over the past month. The stock's performance is notable given that it has a high institutional ownership of 58%, suggesting confidence from more knowledgeable investors. However, the company has shown poor long-term growth, with operating profit growth at only 6.19% annually over the last five years, and a flat PAT result in March 2025, indicating potential risks ahead. Despite these challenges, the stock's current trading above all major moving averages suggests a positive short-term outlook, although the decline in delivery volume may indicate waning investor participation.