Why is Adani Green falling/rising?

As of 31-Jul, Adani Green Energy Ltd's stock price is currently at 984.55, reflecting a decrease of 25.35 points, or 2.51%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 3.01% during this period. It opened with a loss of 2.94% today and reached an intraday low of Rs 980.25. Over the past week, the stock has decreased by 3.60%, while its year-to-date performance shows a decline of 5.42%. Despite positive financial results, including a significant growth in net profit and rising promoter confidence, the company faces challenges due to high debt levels, reflected in a debt-equity ratio of 6.17 times, which undermines its long-term fundamental strength.
In the broader market context, Adani Green's recent performance contrasts with the benchmark Sensex, which has only declined by 1.22% over the past week. The stock's substantial drop of 46.69% over the past year highlights its underperformance compared to the market, which has seen a minor decline of 0.68%. While the company has shown positive operational metrics and increasing promoter stakes, the high debt burden and expensive valuation relative to its peers contribute to investor caution, leading to the stock's current downward trend.