Why is Adani Green falling/rising?

As of 22-Jul, Adani Green Energy Ltd's stock price is currently at 1,016.00, reflecting a decrease of 20.55, or 1.98%. The stock has underperformed its sector today by 1.58%, reaching an intraday low of Rs 1007, which is a decline of 2.85%. Over the past week, the stock has seen a return of -1.56%, while it has performed better over the past month with a gain of 7.13%. Despite positive financial results over the last four quarters, including a significant growth in profit after tax and operating profit, the company is burdened by high debt, with a debt-equity ratio of 6.17 times, which raises concerns about its long-term fundamental strength. Additionally, falling participation from institutional investors, who have reduced their stake by 0.56%, may contribute to the stock's downward pressure.
In the broader market context, the stock's performance has been notably weaker compared to the benchmark, as it has generated a return of -40.88% over the past year, while the Sensex has increased by 2.09%. This stark contrast indicates that Adani Green has significantly underperformed relative to the market, which may deter potential investors. Furthermore, the stock's current valuation appears expensive given its return on capital employed (ROCE) of 7.4 and a PEG ratio of 3.2, suggesting that investors are cautious about its future growth prospects amidst high debt levels.