Why is Adani Green falling/rising?

As of 30-Jul, Adani Green Energy Ltd is experiencing a decline in its stock price, currently at 1,009.90, which reflects a decrease of 5.2 points or 0.51%. The stock has underperformed its sector by 0.49% today and has seen a trend reversal after two consecutive days of gains. Over the past week, the stock has dropped by 2.33%, while its one-month performance shows a decline of 1.54%. Despite positive financial results, including a 142.12% growth in net profit and consistent positive results over the last five quarters, the company faces challenges due to a high debt-to-equity ratio of 6.17, indicating weak long-term fundamental strength. This high debt level, combined with a relatively expensive valuation reflected in a PEG ratio of 2.3, contributes to the stock's downward pressure.
In the broader market context, Adani Green's performance has been notably weaker compared to the benchmark, with a one-year return of -44.91% against the Sensex's slight gain of 0.03%. While the overall market has generated negative returns of -2.34% in the last year, Adani Green's significant decline highlights its struggles relative to the market. The stock's liquidity remains adequate, with a delivery volume increase of 8.01% against the five-day average, suggesting some investor interest. However, the combination of high debt and underperformance compared to both the sector and the broader market continues to weigh heavily on the stock's price.