Why is Adani Energy Sol falling/rising?

As of 19-Sep, Adani Energy Solutions Ltd is experiencing a price increase, currently at 877.30, reflecting a rise of 39.35 or 4.7%. The stock has shown strong performance today, outperforming its sector by 2.22% and gaining 6.03% over the last two days. It opened with a significant gain of 4.98% and reached an intraday high of Rs 898.95. Over the past week, the stock has risen by 5.89%, and year-to-date, it has increased by 8.79%. Positive factors contributing to this rise include an increase in promoter confidence, with a 1.25% increase in their stake, indicating optimism about the company's future. However, the company also faces challenges, such as high debt levels and weak long-term fundamentals, which could temper investor enthusiasm.
In the broader market context, Adani Energy Solutions Ltd has outperformed the Sensex in the short term, with a 1-week return of 5.89% compared to the Sensex's 0.88%. Despite this recent uptick, the stock has underperformed over the longer term, with a 1-year return of -10.61% against a slight decline of -0.67% for the Sensex. The stock's high debt-to-equity ratio and low profitability metrics suggest caution, as it has consistently underperformed against benchmarks over the last three years. Overall, while the stock is currently rising due to short-term gains and increased promoter confidence, its long-term outlook remains clouded by financial challenges.