Why is Adani Power falling/rising?

As of 01-October, Adani Power Ltd's stock price is rising, currently at Rs 152.45, reflecting an increase of Rs 7.8 or 5.39%. The stock has shown strong performance today, outperforming its sector by 4.12%, and reached an intraday high of Rs 153.2. Over the past week, the stock has gained 5.28%, and it has delivered impressive returns of 25.64% over the past month and 44.05% year-to-date. Despite a significant drop in delivery volume, which fell by 75.72% against the 5-day average, the stock remains liquid enough for trading. The company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 18.32% and operating profit rising by 66.27%, contributing to its market-beating performance.
In the broader market context, Adani Power's recent performance stands in stark contrast to the Sensex, which has declined by 0.90% over the past week. This indicates that while the overall market may be facing challenges, Adani Power is capitalizing on its strong fundamentals and market position, being the second-largest company in its sector with a market cap of Rs 2,78,953 crore. The stock has consistently outperformed the BSE500 over various timeframes, including the last three years and one year, which further underscores its resilience and attractiveness to investors amidst a fluctuating market environment.