Why is IRM Energy falling/rising?

As of 02-Jul, IRM Energy Ltd's stock price is currently at 322.75, reflecting an increase of 16.6 points or 5.42%. The stock has shown a strong performance today, outperforming its sector by 4.11% and achieving a consecutive gain over the last three days, with an overall increase of 8.09% during this period. The stock reached an intraday high of Rs 334.45, indicating positive momentum. However, despite these short-term gains, the company has faced significant challenges, including a poor long-term growth outlook with a -28.94% annual decline in operating profit over the last five years and negative results for the past five consecutive quarters. The stock has generated a return of -30.98% over the last year, while profits have fallen by -49%, contributing to a perception of an expensive valuation with a Price to Book Value of 1.4.
In the broader market context, IRM Energy's short-term return of +7.58% over the past week significantly outpaces the Sensex's increase of +0.79% during the same period. While the stock has shown some resilience in the short term, it has underperformed the benchmark over longer time frames, including a -30.98% return in the last year compared to the Sensex's +5.00%. This disparity highlights the stock's volatility and the challenges it faces in maintaining investor confidence amidst its ongoing financial struggles.