Why is IRM Energy falling/rising?

As of 23-Jun, IRM Energy Ltd's stock price is currently at 306.30, reflecting an increase of 19.5, or 6.8%. The stock has shown positive momentum recently, outperforming its sector by 5.73% today and achieving consecutive gains over the last two days with an overall return of 8.08%. Despite this short-term rise, the stock has had a challenging year, with a year-to-date decline of 11.97% and a significant drop of 34.77% over the past year. The company has a low debt-to-equity ratio, which is a positive factor, but it has also reported negative results for the last five consecutive quarters, including a 64.7% fall in PAT compared to the previous four-quarter average. This poor performance in profitability, combined with a very expensive valuation, suggests that while the stock may be rising in the short term, there are underlying issues that could affect its long-term growth.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has only increased by 0.12% over the past week and 0.22% over the past month. This indicates that IRM Energy's short-term gains are notable compared to the benchmark. However, the stock's long-term performance remains concerning, as it has underperformed the BSE 500 over the last three years, one year, and three months. The combination of short-term gains and long-term struggles suggests that while investor participation may be increasing, the overall outlook for IRM Energy Ltd remains cautious due to its historical performance and ongoing financial challenges.