Why is Mahanagar Gas falling/rising?

As of 04-Aug, Mahanagar Gas Ltd. is currently priced at 1,341.30, reflecting a slight increase of 3.9 (0.29%). The stock has shown a trend reversal, gaining after two consecutive days of decline, although it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. In the past week, the stock has underperformed with a return of -2.54%, while the Sensex has increased by 0.16%. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 63.78% compared to the 5-day average. Despite these challenges, the company boasts a high management efficiency with a return on equity (ROE) of 17.70%, low debt-to-equity ratio, and healthy long-term growth in net sales, which has grown at an annual rate of 24.17%. However, the stock has underperformed the market over the past year, with a return of -27.91%, indicating a more substantial decline compared to the broader market's negative return of -2.34%.
In the broader market context, Mahanagar Gas has struggled relative to the benchmark, particularly over the last year, where its performance has been significantly worse than the market average. While the stock has shown some resilience with a year-to-date return of +4.44%, its recent performance indicates a struggle to regain momentum. The stock's current price increase may be attributed to its attractive valuation compared to peers, high institutional holdings, and positive quarterly results, which could suggest a potential for recovery. However, the overall negative sentiment from its recent underperformance and declining investor participation may continue to weigh on its price movements in the near term.