Why is Indian Renewable falling/rising?

As of 28-Jul, Indian Renewable Energy Development Agency Ltd's stock price is currently at Rs 150.50, reflecting a decrease of Rs 2.75 or 1.79%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 4.08% during this period. It has also underperformed its sector by 0.42% today. The stock's performance over the past week shows a decline of 4.29%, while it has experienced a significant drop of 30.05% year-to-date and 41.67% over the past year. Despite strong long-term fundamentals, including a healthy growth rate in net sales and operating profit, the recent quarterly results have shown a substantial decline in profit after tax, which has contributed to the negative sentiment surrounding the stock.
In the broader market context, the stock's short-term performance has been worse than the benchmark, with the Sensex declining only 1.59% over the past week. This stark contrast highlights the stock's struggles relative to the market. Additionally, while there has been increased participation from institutional investors, which may indicate some confidence in the company's long-term potential, the overall negative performance metrics and expensive valuation have led to a bearish outlook. The stock's current price movement reflects a combination of disappointing recent earnings and a lack of positive momentum compared to the broader market.