Why is Indian Renewable falling/rising?

As of 17-Jun, Indian Renewable Energy Development Agency Ltd's stock price is currently at 165.00, reflecting a decrease of 2.9, or 1.73%. The stock has underperformed significantly, with a 1-week return of -9.56% and a year-to-date decline of -23.31%. Today's performance indicates that it is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Additionally, there has been a notable drop in investor participation, with delivery volume falling by 16.58% compared to the 5-day average. Despite strong long-term fundamentals, including a healthy growth rate in net sales and operating profit, the stock's expensive valuation and consistent underperformance against benchmarks have contributed to its recent decline.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with the Sensex only declining by 0.98% over the same week. This underperformance is further emphasized by the stock's negative returns over the past year, where it has generated -7.87% compared to the Sensex's positive return of 5.96%. While there has been an increase in institutional investor participation, which may indicate some confidence in the company's long-term prospects, the overall sentiment remains cautious due to the stock's expensive valuation and its inability to keep pace with market benchmarks.