Why is Indian Renewable falling/rising?

As of 03-Sep, Indian Renewable Energy Development Agency Ltd's stock price is currently at 146.15, reflecting an increase of 2.1 (1.46%). The stock has been gaining momentum, having outperformed its sector by 0.62% today and achieving a consecutive gain over the last three days, with a total return of 4.06% during this period. Despite a significant decline of 38.91% over the past year, the company has shown strong long-term fundamentals, with a return on equity (ROE) of 15.59% and healthy growth in net sales and operating profit. Additionally, there has been an increase in institutional investor participation, which may contribute positively to the stock's recent upward movement.
In the broader market context, the stock has outperformed the Sensex over the past week, gaining 1.39% compared to a decline of 0.27% for the index. However, it has underperformed the benchmark over longer periods, including a 32.07% decline year-to-date versus a 3.11% increase in the Sensex. This contrast highlights the stock's recent short-term recovery against a backdrop of long-term underperformance. Despite the positive short-term indicators, the stock's overall performance remains concerning due to its significant losses over the past year and flat quarterly results, which may temper investor sentiment moving forward.