Why is Reliance Power falling/rising?

As of 17-Sep, Reliance Power Ltd's stock price is rising, currently at 48.77, with an increase of 0.87 or 1.82%. The stock has shown strong performance recently, outperforming its sector by 2.23% today and achieving a consecutive gain over the last two days with a total return of 6.9%. In the past week, the stock has risen by 4.32%, and over the last month, it has increased by 12.71%. Positive financial results, including a higher profit after tax of Rs 170.25 crore and a record cash position of Rs 973.37 crore, have contributed to this upward movement. However, concerns about long-term fundamental strength persist, particularly due to a -10.04% CAGR growth in operating profits over the last five years and a high Debt to EBITDA ratio of 9.63 times.
Broader market context shows that while the BSE500 index has generated negative returns of -2.63% over the past year, Reliance Power has managed to deliver a remarkable return of 55.27%. This significant outperformance against the broader market indicates strong investor interest, as evidenced by a 131.04% increase in delivery volume compared to the five-day average. Despite the stock trading at a discount relative to its peers and showing a fair valuation, the low participation from domestic mutual funds, holding only 0.94% of the company, suggests some caution among institutional investors regarding the stock's future potential.