Why is Indian Renewable falling/rising?

As of 05-Aug, Indian Renewable Energy Development Agency Ltd's stock price is currently at 146.65, reflecting a decrease of 1.3, or 0.88%. The stock has underperformed its sector today by 0.79% 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 declined by 2.56%, and it has experienced a significant drop of 12.03% over the past month. Despite a strong long-term fundamental strength indicated by an average Return on Equity (ROE) of 15.59% and healthy growth in net sales and operating profit, the recent flat results for June, including a 41.9% fall in PAT compared to the previous quarter average, have negatively impacted investor sentiment.
In the broader market context, the stock's performance has been notably weaker than the benchmark, with a year-to-date decline of 31.84% compared to a 3.29% increase in the Sensex. This underperformance is further highlighted by the stock's returns over the last year, which stand at -38.63%, contrasting sharply with the Sensex's gain of 2.48%. Although there has been increasing participation from institutional investors, who have raised their stake by 2.73%, the overall sentiment remains cautious due to the stock's expensive valuation and below-par performance in both the long and short term.