Why is Adani Energy Sol falling/rising?

As of 31-Oct, Adani Energy Solutions Ltd is experiencing a price increase, currently at 986.05, which reflects a rise of 20.95 or 2.17%. The stock has shown strong performance today, outperforming its sector by 3.63% and reaching an intraday high of Rs 1004.35, marking a 4.07% increase. Over the past week, the stock has gained 4.40%, and over the past month, it has risen by 10.03%, significantly outpacing the Sensex, which has seen a decline of 0.32% in the same period. However, despite these positive movements, there are concerns regarding the company's high debt levels and weak long-term fundamentals, as indicated by a debt-to-equity ratio of 2.32 and low profitability metrics, which could impact investor sentiment.
Broader Market Context: In the context of the broader market, Adani Energy Solutions Ltd's recent performance contrasts sharply with the Sensex, which has only gained 3.65% over the past month. The stock's high institutional holdings at 23.02% suggest that knowledgeable investors are backing it, despite the company's challenges, including a significant drop in operating cash flow and a low debtors turnover ratio. This institutional support may be contributing to the stock's resilience and upward movement, even as it faces underlying financial difficulties that could pose risks in the long term.