Why is Adani Ports falling/rising?

As of 28-Aug, Adani Ports & Special Economic Zone Ltd is experiencing a decline in its stock price, currently at 1,314.60, which reflects a decrease of 2.75 points or 0.21%. The stock has been on a downward trend, having lost 4.06% over the last five days and showing a 1-month decline of 4.56%. Despite this recent downturn, the company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 23.48% and operating profit at 31.85%. However, the stock's valuation appears expensive, as indicated by a high enterprise value to capital employed ratio of 3.1, and it has underperformed over the past year with a return of -10.63%, even as profits rose by 19.1%.
In the broader market context, Adani Ports' short-term performance has lagged behind the benchmark Sensex, which has decreased by 2.34% over the same week. The stock's recent performance is also characterized by falling investor participation, with delivery volume dropping significantly by 69.82% compared to the 5-day average. While the company maintains high institutional holdings at 28.66%, indicating confidence from larger investors, the stock's current trajectory suggests that concerns over its valuation and recent performance may be weighing on investor sentiment.