Why is Adani Green falling/rising?

As of 04-Aug, Adani Green Energy Ltd's stock price is currently at 990.30, reflecting an increase of 17.7, or 1.82%. Today's performance indicates a trend reversal as the stock has gained after three consecutive days of decline, outperforming its sector by 1.12%. The stock reached an intraday high of Rs 996.7, which is a 2.48% increase. Despite this positive movement today, the stock has underperformed in the short term, with a 1-week return of -1.42% compared to the Sensex's gain of 0.16%. Additionally, while the company has shown strong financial results, including a 142.12% growth in net profit and positive results for the last five consecutive quarters, it also faces challenges such as a high debt-equity ratio of 6.17, indicating weak long-term fundamental strength.
Broader Market Context: In the broader market context, Adani Green's performance has been notably weaker than the benchmark over the past year, with a return of -47.34% compared to the Sensex's minimal gain of 0.05%. This significant underperformance highlights the stock's struggles despite recent positive financial indicators and rising promoter confidence, as promoters have increased their stake by 0.97%. However, the high debt levels and expensive valuation metrics, such as a PEG ratio of 2.3, suggest that while there may be short-term gains, the long-term outlook remains uncertain, contributing to a cautious sentiment among investors.