Why is Mahanagar Gas falling/rising?

As of 22-Aug, Mahanagar Gas Ltd. is experiencing a decline in its stock price, currently at 1,326.00, reflecting a decrease of 7.4 points or 0.55%. The stock has been on a downward trend, having fallen for the last two consecutive days with a total return of -0.92% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. The stock has also seen a significant drop in delivery volume, which fell by 32.58% compared to the 5-day average, suggesting reduced investor participation. Over the past month, Mahanagar Gas has underperformed with a return of -10.70%, while the benchmark Sensex has only declined by 1.07%.
In the broader market context, Mahanagar Gas's performance has been notably weaker than the market, particularly over the past year, where it has lost 26.98% compared to a slight gain of 0.31% for the Sensex. Despite its high management efficiency and attractive valuation metrics, including a low debt-to-equity ratio and strong net sales growth, the stock's recent performance reflects investor concerns, particularly given its significant underperformance relative to the market. The high institutional holdings at 58% may provide some support, but the overall negative sentiment and declining returns are contributing to the stock's current downward trajectory.