Why is Adani Power falling/rising?

As of 26-Aug, Adani Power Ltd's stock price is currently at Rs 591.80, reflecting a decline of Rs 13.6 or 2.25%. The stock has underperformed its sector by 0.78% today, having touched an intraday low of Rs 590, which represents a decrease of 2.54%. Over the past week, the stock has decreased by 2.38%, while it has shown a positive return of 3.80% over the past month. Despite this recent downturn, the stock has demonstrated strong long-term growth, with net sales increasing at an annual rate of 18.32% and operating profit rising by 66.27%. The majority shareholders are promoters, which may provide stability, but the current price movement indicates a short-term struggle.
In the broader market context, the Sensex has decreased by 1.05% over the past week, indicating that while Adani Power's decline is notable, it is not entirely isolated from market trends. The stock's performance over the year shows a decline of 10.52%, contrasting with the Sensex's minor drop of 1.12%, suggesting that Adani Power is facing specific challenges beyond general market conditions. The stock's liquidity remains adequate, with a delivery volume increase of 51.92% against the 5-day average, which may indicate rising investor interest despite the current price drop. Overall, while the stock has strong fundamentals for long-term growth, recent performance reflects a combination of sector underperformance and broader market pressures.