Why is Mahanagar Gas falling/rising?

As of 28-Aug, Mahanagar Gas Ltd. is experiencing a decline in its stock price, currently at Rs 1,272.70, reflecting a decrease of Rs 10.1 or 0.79%. The stock has been on a downward trend, losing 4.9% over the last five days and showing a 7.53% decline over the past month. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Despite a recent high of Rs 1,331, the stock's performance over the past year has been poor, with a return of -28.90%. However, the company demonstrates strong fundamentals, including a high return on equity (ROE) of 17.7% and healthy long-term growth in net sales, which has increased at an annual rate of 24.17%.
In the broader market context, Mahanagar Gas's short-term performance has been worse than the benchmark Sensex, which has declined by only 2.34% over the past week. The stock's recent struggles are compounded by a significant drop in profits, which fell by 10% over the past year, despite a high institutional holding of 58% that suggests confidence from larger investors. The stock's liquidity remains adequate, with a notable increase in delivery volume, indicating some investor interest. However, the overall negative price movement and the stock's underperformance relative to the benchmark highlight ongoing challenges for Mahanagar Gas in the current market environment.