Why is Adani Energy Sol falling/rising?

As of 16-Jul, Adani Energy Solutions Ltd is experiencing a decline in its stock price, currently at 877.05, which reflects a decrease of 2.8 or 0.32%. The stock has underperformed its sector by 0.6% today and has been on a consecutive downward trend for the last two days, with a total decline of 0.34% during this period. Over the past week, the stock has decreased by 1.62%, while it has shown a modest increase of 1.33% over the past month. Despite a significant growth in net profit and positive quarterly results, the stock's long-term performance remains concerning, with a 14.21% decline over the past year and a staggering 69.66% drop over the last three years. The company has a high debt-to-equity ratio, which raises concerns about its long-term fundamental strength, despite having high institutional holdings that have increased slightly.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by only 1.08% over the past week and increased by 1.02% over the past month. This indicates that while the market has shown some resilience, Adani Energy Solutions Ltd has struggled to keep pace. The falling investor participation, evidenced by a significant drop in delivery volume, further suggests a lack of confidence among investors, contributing to the stock's downward trajectory. Overall, the combination of high debt levels, weak long-term fundamentals, and recent underperformance relative to the market has led to the current decline in the stock price.