Why is Indian Renewable falling/rising?

As of 22-Aug, Indian Renewable Energy Development Agency Ltd's stock price is currently at 147.55, reflecting an increase of 0.25, or 0.17%. The stock has shown a trend reversal by gaining after two consecutive days of decline, and it has outperformed its sector by 0.61% today. In the short term, the stock has increased by 2.57% over the past week, although it has experienced a decline of 5.54% over the past month and a significant drop of 31.42% year-to-date. Despite these fluctuations, the stock's long-term fundamentals remain strong, with a healthy annual growth rate in net sales and operating profit. However, the recent quarterly results have shown a concerning decline in profit after tax and earnings per share, which may contribute to investor caution.
In the broader market context, the stock's short-term performance has outpaced the Sensex, which has only increased by 0.88% over the past week. However, the stock has underperformed the benchmark over longer periods, including a 42.62% decline over the past year compared to a modest 0.31% increase in the Sensex. The increasing participation of institutional investors, who have raised their stake in the company, may provide some support for the stock, as these investors typically have more resources to analyze the company's fundamentals. Nonetheless, the stock's expensive valuation and below-par performance in both the near and long term could weigh on its recovery prospects.