Why is Adani Ports falling/rising?

As of 05-Jun, Adani Ports & Special Economic Zone Ltd is experiencing a price increase, with the current price at 1,456.15, reflecting a rise of 19.35 or 1.35%. The stock has shown positive momentum, gaining for the last two days with a total return of 1.63% during this period. It has also reached an intraday high of Rs 1467.5, indicating strong trading activity. The stock is performing well compared to its moving averages, trading above the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Additionally, the company has reported healthy long-term growth, with net sales increasing at an annual rate of 21.22% and operating profit at 27.74%. Positive results over the last nine consecutive quarters, along with a high return on capital employed and a low debt-equity ratio, further bolster investor confidence.
In the broader market context, Adani Ports has outperformed the benchmark Sensex in the short term, with a 1.27% gain over the past week compared to a decline of 0.23% for the index. This trend is supported by high institutional holdings at 28.16%, suggesting that informed investors are backing the stock. However, there is a noted decline in investor participation, with delivery volume falling by 39.7% against the 5-day average, which could indicate a potential concern for future trading activity. Overall, the stock's bullish technical indicators and strong fundamentals contribute to its rising price, despite the recent drop in trading volume.