Why is Adani Enterp. falling/rising?

As of 08-Aug, Adani Enterprises Ltd is experiencing a decline in its stock price, currently at Rs 2,178.05, which reflects a decrease of Rs 71.55 or 3.18%. The stock has been underperforming, having lost 7.88% over the last four days, and it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has shown significant negative returns over various periods, including a 15.95% drop over the past month and a 31.20% decline over the past year. 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, indicating poor management efficiency and low profitability.
In the broader market context, the stock's performance has been notably worse than the benchmark, with a 1-week return of -7.34% compared to the Sensex's -0.92%. This consistent underperformance against the benchmark over the last three years, alongside a significant decline in profits by 20.9% over the past year, has contributed to a lack of investor confidence. While there has been a rise in investor participation with a 90.05% increase in delivery volume, the overall market sentiment remains negative, particularly in the diversified sector, which has fallen by 2.18%.