Why is Adani Enterp. falling/rising?

As of 03-Sep, Adani Enterprises Ltd's stock price is currently at 2,287.55, reflecting an increase of 13.95 or 0.61%. The stock has shown mixed performance recently, with a slight gain of 0.11% over the past week, but a decline of 2.68% over the past month. Today's price summary indicates that the stock has underperformed its sector by 0.36%. Additionally, the stock is trading higher than its 5-day moving averages but lower than its 20-day, 50-day, 100-day, and 200-day moving averages. There has also been a significant drop in investor participation, with delivery volume falling by 46.86% against the 5-day average. While the company has demonstrated healthy long-term growth with net sales increasing by 19.89% annually and operating profit at 53.83%, it has also faced challenges, including a low return on capital employed (ROCE) of 6.91% and negative results for the last three consecutive quarters.
In the broader market context, Adani Enterprises has underperformed against the benchmark, with a year-to-date return of -9.55% compared to the Sensex's gain of 3.11%. This consistent underperformance is evident over the last three years, where the stock has generated -24.67% returns, significantly lagging behind the BSE500. The company's high debt-to-EBITDA ratio of 6.41 times raises concerns about its ability to service debt, further impacting investor sentiment. Despite being the largest company in its sector, accounting for 56.74% of the industry, the combination of poor management efficiency, declining profits, and negative quarterly results has contributed to a cautious outlook among investors, leading to the stock's recent price movements.