Why is Mahanagar Gas falling/rising?

As of 01-Sep, Mahanagar Gas Ltd. is currently priced at 1,262.00, reflecting an increase of 10.2 or 0.81%. The stock has shown a trend reversal today, gaining after six consecutive days of decline. However, it has underperformed its sector by 1.36%. The stock has traded within a narrow range of Rs 12.25 and is currently below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, Mahanagar Gas has experienced a decline of 4.65%, and over the past month, it has fallen by 5.66%. Despite a significant drop of 29.65% over the past year, the company has demonstrated strong management efficiency with a high return on equity (ROE) of 17.70% and a low debt-to-equity ratio, which may support its valuation.
In the broader market context, Mahanagar Gas has underperformed the Sensex, which has only declined by 1.56% over the past week and 0.29% over the past month. The gas transmission and marketing sector has gained by 2.08%, indicating a more favorable environment for sector peers. Despite the stock's recent struggles, it has shown healthy long-term growth with net sales increasing at an annual rate of 24.17%. The high institutional holdings at 58% suggest that knowledgeable investors are backing the company, which may provide some stability. However, the stock's significant year-over-year decline in profits by 10% raises concerns about its future performance, contributing to its current volatility.