Why is Adani Energy Sol falling/rising?

As of 18-Jul, Adani Energy Solutions Ltd is experiencing a decline in its stock price, currently at 866.20, reflecting a decrease of 6.8 points or 0.78%. The stock has been on a downward trend, losing value for the last four consecutive days, with a total return of -1.57% during this period. Although the stock has shown a positive return of 2.72% over the past month, it has significantly underperformed over the past year with a decline of 14.22%. The company has reported strong financial results, including a net profit growth of 87.17% and a low debt-equity ratio of 1.83 times, which are positive indicators. However, the stock is also characterized by high debt levels and a low return on capital employed, leading to concerns about its long-term fundamental strength.
In the broader market context, Adani Energy Solutions Ltd's short-term performance is slightly better than the benchmark Sensex, which has decreased by 0.90% over the past week. Despite the company's recent positive financial results and high institutional holdings, the stock's consistent underperformance against the benchmark over the last three years raises concerns among investors. Additionally, a significant drop in investor participation, with delivery volume falling by 41.43% against the five-day average, suggests waning interest, contributing to the stock's current decline.