Why is Adani Energy Sol falling/rising?

As of 08-Jul, Adani Energy Solutions Ltd is experiencing a decline in its stock price, currently at 880.00, down by 5.5 points or 0.62%. Today's price summary indicates that the stock has underperformed its sector by 1.38% and has reversed its trend after two consecutive days of gains. Despite this recent downturn, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting some underlying strength. The company has shown impressive growth in net profit, with an 87.17% increase reported in March, and has declared positive results for the last four consecutive quarters. However, it also faces challenges, such as a high debt-to-equity ratio and a relatively low return on capital employed, which contribute to concerns about its long-term fundamental strength.
In the broader market context, the stock has shown a modest gain of 0.78% over the past week, while the benchmark Sensex has only increased by 0.02%. However, over the last month, Adani Energy Solutions Ltd has underperformed with a decline of 0.45%, compared to a 1.85% rise in the Sensex. The stock's longer-term performance is concerning, with a 12.00% drop over the past year and a significant underperformance against the benchmark over the last three years. Although institutional holdings are high at 23.91%, indicating confidence from larger investors, the overall consistent underperformance and high debt levels may be contributing to the current price decline.