Why is Indian Renewable falling/rising?

As of 18-Aug, Indian Renewable Energy Development Agency Ltd's stock price is currently at Rs 147.70, reflecting an increase of Rs 3.85 or 2.68%. Today's performance indicates that the stock has outperformed its sector by 0.43%, reaching an intraday high of Rs 148.35. However, the stock has shown a decline of 6.16% over the past month and a significant drop of 31.35% year-to-date. While there are strong long-term fundamentals with an average Return on Equity (ROE) of 15.59% and healthy growth in net sales and operating profit, the recent quarterly results have been disappointing, with a 41.9% fall in PAT compared to the previous four-quarter average. Additionally, the stock's valuation appears expensive with a Price to Book Value ratio of 4, which may deter some investors.
In the broader market context, the stock has outperformed the Sensex in the short term, gaining 2.00% over the past week compared to the benchmark's 0.83% increase. However, the stock's long-term performance has been underwhelming, with a 38.50% decline over the past year, contrasting sharply with the Sensex's modest gain of 1.04%. The recent increase in institutional investor participation, who have raised their stake by 2.73%, may provide some support for the stock, but the overall negative sentiment from flat quarterly results and below-par performance in both the near and long term continues to weigh heavily on investor confidence.