Why is Adani Enterp. falling/rising?

As of 05-Aug, Adani Enterprises Ltd is currently priced at 2,330.10, reflecting a decrease of 34.15 points, or 1.44%. The stock has underperformed its sector today by 1.27% and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has declined by 8.69%, and it has shown a significant drop of 23.25% over the past year, indicating consistent underperformance against the benchmark. The company has reported negative results for the last three consecutive quarters, with a low Return on Capital Employed (ROCE) of 6.91% and a high Debt to EBITDA ratio of 6.41 times, which suggests challenges in profitability and debt servicing. Despite healthy long-term growth in net sales and operating profit, the overall financial health appears to be deteriorating, contributing to the recent decline in stock price.
In the broader market context, the stock's performance has been notably weaker than the benchmark, with a year-to-date return of -7.87% compared to the Sensex's positive return of 3.29%. This underperformance is further highlighted by the stock's returns over the last three years, where it has consistently lagged behind the BSE500 index. The liquidity of the stock remains adequate for trading, but the falling investor participation, as evidenced by a decline in delivery volume, suggests a lack of confidence among investors. Overall, the combination of poor management efficiency, negative quarterly results, and a high debt burden has led to a decline in investor sentiment, contributing to the stock's downward movement.