Why is Mahanagar Gas falling/rising?

As of 08-Aug, Mahanagar Gas Ltd. is experiencing a price increase, currently at Rs 1,319.00, reflecting a rise of 24.0 points or 1.85%. The stock has shown a positive performance today, outperforming its sector by 1.07% and achieving a consecutive gain over the last two days with a total return of 2.01%. However, it is important to note that the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the delivery volume has decreased by 30.27% compared to the 5-day average, indicating a decline in investor participation. Despite a significant drop of 26.89% over the past year, the company has demonstrated high management efficiency with a return on equity (ROE) of 17.70% and a low debt-to-equity ratio, which supports its valuation as attractive compared to peers.
In the broader market context, Mahanagar Gas has underperformed the Sensex in the short term, with a 1-week return of -1.40% compared to the benchmark's -0.92%. However, year-to-date, the stock has managed a slight gain of 2.71%, outperforming the Sensex's 2.20% increase. The company's healthy long-term growth, evidenced by a net sales growth rate of 24.17% and strong quarterly results, suggests potential for recovery, although recent profit declines of 10% may be weighing on investor sentiment. High institutional holdings at 58% indicate confidence from more knowledgeable investors, which could provide some stability amidst the stock's recent volatility.