Why is Indian Renewable falling/rising?

As of 18-Sep, Indian Renewable Energy Development Agency Ltd's stock price is currently at Rs 155.55, reflecting an increase of Rs 1.55 or 1.01%. The stock has been on a positive trajectory, gaining for the last five days and achieving a total return of 6.11% over the past week, which outperformed the sector by 0.68%. Despite this recent uptick, the stock has experienced a significant decline of 27.70% year-to-date and 31.63% over the past year. The company has shown strong long-term fundamental strength, with an average Return on Equity (ROE) of 15.59% and impressive growth in net sales and operating profit. However, recent flat results, including a 41.9% drop in PAT compared to the previous four-quarter average, have raised concerns about its valuation, which is considered expensive with a Price to Book Value of 4.3. In the broader market context, the stock's short-term performance of +6.11% over the past week stands in contrast to the Sensex, which has only increased by 1.80% during the same period. This indicates that the stock is gaining traction relative to the overall market. Additionally, there has been increasing participation from institutional investors, who have raised their stake by 2.73% in the last quarter, suggesting a positive outlook from more sophisticated market participants. However, the stock's long-term performance remains concerning, as it has underperformed the BSE500 over various time frames, indicating challenges that may affect investor sentiment moving forward.