Why is Adani Enterp. falling/rising?

As of 21-Aug, Adani Enterprises Ltd is experiencing a decline in its stock price, currently at 2,377.70, reflecting a decrease of 3.6 points or 0.15%. The stock has been losing value for the last two days, with a total return of -0.34% during this period. Although the stock has shown a positive return of 4.19% over the past week, it has underperformed significantly over the longer term, with a -9.20% return over the past month and a staggering -23.68% return over the past year. The company's financial health is concerning, as it 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 recent performance contrasts with the benchmark, as the Sensex has gained 1.74% over the past week and is up 4.94% year-to-date. This underperformance against the benchmark is consistent with the company's trend over the last three years, where it has consistently lagged behind the BSE500. Despite being the largest company in its sector with a significant market cap, the stock's liquidity remains adequate for trading, but the falling investor participation, indicated by a 4.42% drop in delivery volume, suggests waning interest. Overall, the combination of poor financial results, high debt levels, and consistent underperformance relative to the market is contributing to the stock's decline.