Why is Adani Green falling/rising?

As of 02-Jul, Adani Green Energy Ltd's stock price is currently at 1,019.15, reflecting an increase of 3.45 (0.34%). The stock has outperformed its sector by 0.61% today, although it has shown a decline of 2.10% year-to-date and a significant drop of 42.52% over the past year. Despite the recent positive performance in the last four quarters, with a 60.27% growth in PAT and a 97.3% increase in PBT, the company's high debt levels, indicated by a Debt-Equity Ratio of 6.17 times, raise concerns about its long-term fundamental strength. Additionally, the stock is trading at a discount compared to its peers, but the high PEG ratio of 3.2 suggests it may be overvalued despite rising profits.
In the broader market context, Adani Green's short-term return of 3.90% over the past week contrasts with the Sensex's return of 0.79%, indicating a stronger performance relative to the benchmark. However, the stock's long-term performance remains concerning, as it has underperformed the BSE500 over the last three years, one year, and three months. The decline in institutional investor participation, with a decrease of 0.56% in their stake, further adds to the stock's challenges, as these investors typically have better resources to assess company fundamentals. Overall, while there are some positive indicators in the company's recent performance, the high debt levels and declining institutional interest contribute to a cautious outlook.