Why is Adani Ports falling/rising?

As of 29-Aug, Adani Ports & Special Economic Zone Ltd is experiencing a slight decline in its stock price, currently at 1,313.90, reflecting a decrease of 0.7 or 0.05%. The stock has been on a downward trend, losing value for the last six consecutive days and showing a total decline of 4.12% during this period. In terms of performance relative to the market, the stock has underperformed against the Sensex, with a one-week return of -1.97% compared to the benchmark's -1.84%, and a one-month return of -5.85% against -1.88% for the Sensex. 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%. Additionally, the company has reported positive results for the last ten consecutive quarters, which may provide some support for the stock despite its current price movement.
In the broader market context, the stock's recent performance contrasts with its year-to-date return of +6.92%, significantly outperforming the Sensex's +2.14%. However, the stock's valuation appears to be a concern, as indicated by a high enterprise value to capital employed ratio and a relatively expensive valuation despite rising profits. The stock is trading at a discount compared to its peers' average historical valuations, which may contribute to investor hesitance. Furthermore, while there is rising investor participation, as evidenced by a 29.87% increase in delivery volume, the overall sentiment may be tempered by the stock's recent performance and valuation concerns.