Why is Adani Power falling/rising?

As of 29-Jul, Adani Power Ltd's stock price is currently at 592.55, reflecting an increase of 21.95, or 3.85%. The stock has shown a positive trend recently, gaining 3.93% over the last two days and outperforming its sector by 2.87% today. Additionally, the stock has demonstrated strong long-term growth, with net sales increasing at an annual rate of 16.25% and operating profit rising by 44.71%. However, the company faces challenges, including a high Debt to EBITDA ratio of 3.51 times and negative financial results from the previous quarter, which may weigh on investor sentiment despite the recent price increase.
In the broader market context, Adani Power's short-term performance has been favorable compared to the benchmark, as it has gained 0.26% over the past week while the Sensex has declined by 1.03%. Year-to-date, the stock has outperformed the benchmark with an 11.98% increase compared to the Sensex's 4.09%. Despite these positive indicators, the stock has underperformed over the past year, with a decline of 17.33% compared to the market's slight decrease of 0.02%. This mixed performance highlights the volatility and risks associated with the stock, influenced by both its financial health and broader market conditions.