Why is Adani Green falling/rising?

As of 24-Jun, Adani Green Energy Ltd's stock price is currently at Rs 987.10, reflecting an increase of Rs 25.1 or 2.61%. The stock has shown a positive trend recently, gaining for the last three days with a total return of 5.86% during this period. It opened with a gain of 2.23% today and reached an intraday high of Rs 1001.95, which is a 4.15% increase. Despite this recent uptick, the stock has underperformed over the longer term, with a year-to-date decline of 5.18% and a significant drop of 45.53% over the past year. The company's financial performance has been strong in recent quarters, with a 60.27% growth in profit after tax and a notable increase in operating profit, which may contribute positively to investor sentiment. However, the high debt-to-equity ratio of 6.17 times raises concerns about long-term stability, and the stock's valuation appears expensive relative to its returns.
In the broader market context, Adani Green has outperformed the benchmark Sensex in the short term, with a 1-week return of 0.99% compared to the Sensex's 0.58%. However, the stock's long-term performance remains concerning, as it has underperformed the benchmark over the past year and three years. Additionally, there has been a decline in institutional investor participation, which could signal a lack of confidence among more sophisticated investors. This combination of short-term gains amid long-term challenges and high debt levels suggests that while the stock may be experiencing a temporary rise, significant underlying issues could hinder its future performance.