Why is IRM Energy falling/rising?

As of 08-Jul, IRM Energy Ltd's stock price is currently at 306.15, reflecting a decline of 8.85 points or 2.81%. Today's price summary indicates that the stock has underperformed its sector by 2.18% and has experienced a trend reversal, falling after two consecutive days of gains. The stock touched an intraday low of Rs 305, with trading volume concentrated near this low price. Over the past week, the stock has shown no change, while it has gained 2.39% over the last month. However, it has significantly underperformed over the longer term, with a year-to-date decline of 12.01% and a one-year return of -33.30%. The company's financial health is concerning, as it has reported negative results for the last five consecutive quarters, with a substantial drop in profits and a poor long-term growth outlook, evidenced by an annual operating profit decline of 28.94% over the last five years.
In the broader market context, the Sensex has shown a slight increase of 0.02% over the past week and a gain of 1.85% over the last month, contrasting with IRM Energy's stagnant short-term performance. While the stock has seen a rise in investor participation, with a 45.79% increase in delivery volume, the overall sentiment remains negative due to the company's poor financial results and high valuation metrics, such as a Price to Book Value of 1.3 and a low return on equity of 4.8. This combination of factors contributes to a bearish outlook for the stock, especially as it continues to lag behind the broader market and its sector.