Why is Mahanagar Gas falling/rising?

As of 11-Aug, Mahanagar Gas Ltd. is experiencing a price increase, currently at Rs 1,338.10, reflecting a rise of 19.1 points or 1.45%. The stock has shown a positive performance today, outperforming its sector by 0.8%, and has gained consecutively over the last three days, with a total return of 3.49% during this period. Despite a challenging year with a decline of 25.85%, the company has demonstrated strong fundamentals, including a high return on equity (ROE) of 17.70% and a low debt-to-equity ratio, which contribute to its attractive valuation. Furthermore, the stock's recent performance is bolstered by rising investor participation, as evidenced by a 23.96% increase in delivery volume compared to the five-day average.
In the broader market context, Mahanagar Gas has outperformed the benchmark Sensex in the short term, with a weekly return of +0.29% compared to the Sensex's -0.51%. However, it has underperformed over the past year, where the Sensex recorded a modest gain of 1.13% while Mahanagar Gas fell significantly. The stock's recent gains may be attributed to its strong management efficiency and healthy long-term growth prospects, despite the negative sentiment from its past performance. The high institutional holdings at 58% suggest confidence from larger investors, which may also support the stock's upward movement in the current trading environment.