Why is Mahanagar Gas falling/rising?

As of 29-Aug, Mahanagar Gas Ltd. is experiencing a decline in its stock price, currently at Rs 1,251.80, reflecting a decrease of Rs 20.9 or 1.64%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 6.46% during this period. It is trading below all its moving averages, indicating a bearish trend. Additionally, the stock's performance over the past week and month shows declines of 5.60% and 10.25%, respectively, while it has underperformed the sector by 2.13%. Despite high management efficiency, a low debt-to-equity ratio, and healthy long-term growth in net sales, the stock has generated a significant return of -29.74% over the past year, with profits also declining by 10%.
In the broader market context, Mahanagar Gas's short-term performance contrasts with the benchmark Sensex, which has seen a decline of only 1.84% over the past week and 1.88% over the past month. This indicates that the stock is not only underperforming relative to the market but also facing challenges despite high institutional holdings at 58%. The rising investor participation, as evidenced by a significant increase in delivery volume, suggests some interest in the stock, yet the overall sentiment remains negative due to its recent price movements and declining returns compared to the benchmark.