Why is Indian Renewable falling/rising?

As of 21-Aug, Indian Renewable Energy Development Agency Ltd's stock price is currently at Rs 147.30, reflecting a decrease of Rs 1.5 or 1.01%. The stock has been underperforming recently, having fallen consecutively for the last two days, resulting in a total decline of 1.04%. Although the stock touched an intraday high of Rs 152, it remains lower than its 20-day, 50-day, 100-day, and 200-day moving averages. The stock's performance over the past week shows a gain of 2.40%, but it has significantly underperformed over the last month with a decline of 6.33% and a year-to-date drop of 31.54%. The recent flat results reported for June, including a 41.9% drop in PAT compared to the previous quarter, have contributed to negative sentiment around the stock, despite its strong long-term fundamentals and increasing institutional investor participation.
In the broader market context, the stock's short-term performance has outpaced the Sensex, which gained 1.74% over the same week, while the stock's longer-term performance has been disappointing, with a 38.34% decline over the past year compared to a modest 1.35% increase in the Sensex. The stock's recent struggles are compounded by its expensive valuation and below-par performance metrics, which have raised concerns among investors. Although there is a positive trend in institutional investment, the overall sentiment remains cautious due to the company's recent financial results and the stock's historical underperformance relative to broader market indices.