Why is Indian Renewable falling/rising?

As of 29-Jul, Indian Renewable Energy Development Agency Ltd is currently priced at 150.50, showing no change (0.00%). The stock has underperformed its sector by 0.46% today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 3.65%, and it has seen a significant decline of 30.05% year-to-date and 43.43% over the past year. Despite these declines, there are signs of increasing investor participation, with delivery volume rising by 64.69% against the 5-day average. However, the company reported a flat performance in its latest quarterly results, with a significant drop in profit after tax and the lowest earnings per share in recent quarters, contributing to its negative sentiment.
In the broader market context, the stock's recent performance contrasts sharply with the Sensex, which has only declined by 1.03% over the past week and has gained 4.09% year-to-date. This underperformance is further highlighted by the stock's negative returns over the last year and its inability to keep pace with the BSE500 index in both the short and long term. While there is strong long-term fundamental strength indicated by a healthy return on equity and growth in net sales, the stock's expensive valuation and recent poor earnings results have overshadowed these positives, leading to a lack of investor confidence and a downward trend in its price.