Why is Mahanagar Gas falling/rising?

As of 02-Sep, Mahanagar Gas Ltd. is experiencing a price increase, currently at 1,279.00, reflecting a rise of 17.0 or 1.35%. The stock has been gaining for the last two days, with a total return of 2.17% during this period. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a potential struggle to maintain upward momentum. Additionally, there has been a significant decline in investor participation, with delivery volume dropping by 61.58% compared to the 5-day average. Despite a year-to-date decline of 0.41% and a substantial 29.22% drop over the past year, the company shows strong fundamentals, including a high return on equity (ROE) of 17.70%, low debt-to-equity ratio, and healthy long-term growth in net sales.
In the broader market context, Mahanagar Gas's short-term performance of -0.30% over the past week is better than the benchmark Sensex, which fell by 0.78%. This relative outperformance may indicate some resilience in the stock despite broader market challenges. The company benefits from high institutional holdings at 58%, suggesting confidence among knowledgeable investors. While the stock has faced significant declines in the past year, its recent positive financial results and attractive valuation relative to peers may provide a foundation for recovery, even as it navigates current liquidity challenges and lower trading volumes.