Why is Adani Energy Sol falling/rising?

As of 01-Jul, Adani Energy Solutions Ltd is experiencing a decline in its stock price, currently at 873.20, reflecting a decrease of 8.6 points or 0.98%. The stock has underperformed its sector by 0.79% today and has been on a downward trend for the last two days, with a total return loss of 1.17% during this period. Despite a positive performance over the past week with a return of 2.51%, the stock has shown a significant decline of 12.64% over the past year, contrasting with a 5.31% gain in the benchmark index. The company has reported strong financial results, including an 87.17% growth in net profit and a low debt-equity ratio of 1.83 times, but these positives are overshadowed by its high debt levels and weak long-term fundamental strength, which contribute to its current price decline.
In the broader market context, while Adani Energy Solutions has outperformed the benchmark index over the past week and year-to-date, it has consistently underperformed against the benchmark over the last three years, which may be affecting investor sentiment. The stock's recent performance indicates a lack of confidence among investors, as evidenced by a 6.02% decrease in delivery volume compared to the five-day average. Although institutional holdings are relatively high at 23.91%, suggesting some level of confidence from larger investors, the overall market perception remains cautious due to the company's high debt and low return on capital employed, leading to its current price drop.