Why is Indian Renewable falling/rising?

As of 31-Jul, Indian Renewable Energy Development Agency Ltd's stock price is currently at Rs 147.40, reflecting a decrease of Rs 2.8 or 1.86%. The stock has been underperforming, having fallen consecutively for the last two days, with a total decline of 2.06% during this period. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock has experienced a significant drop of 43.86% over the past year, while its recent quarterly results showed a sharp decline in profit after tax, leading to concerns about its valuation, which is considered expensive with a Price to Book Value ratio of 4. Despite some positive long-term fundamentals, such as a healthy growth rate in net sales and increasing institutional investor participation, these factors have not been sufficient to counteract the negative sentiment surrounding the stock.
In the broader market context, the stock has underperformed relative to the benchmark Sensex, which has only declined by 1.22% over the past week, while Indian Renewable has dropped by 5.66% in the same timeframe. This stark contrast highlights the stock's struggle to attract investor confidence, especially given the recent flat quarterly results and the overall negative performance in both the short and long term. The increasing participation by institutional investors, who have raised their stake in the company, may suggest some underlying confidence in its long-term potential; however, the immediate outlook remains challenging as the stock continues to face downward pressure.