Why is IRM Energy falling/rising?

As of 01-Aug, IRM Energy Ltd's stock price is currently at 300.00, reflecting an increase of 6.8 or 2.32%. The stock has outperformed its sector today by 4.3%, reaching an intraday high of Rs 306, which is a rise of 4.37%. Over the past week, the stock has shown a positive return of 3.16%, while its one-month performance is down by 2.01%. Despite this recent uptick, the company has faced significant challenges, including a long-term decline in operating profit at an annual rate of -26.37% over the last five years and a substantial drop in profits by -47.8% over the past year. Additionally, institutional investors have reduced their stakes, indicating a lack of confidence in the company's fundamentals.
Broader Market Context: In the context of the broader market, the Sensex has experienced a decline of 1.06% over the past week, while IRM Energy's recent performance has been more favorable. However, the stock has underperformed the market significantly over the last year, with a return of -33.96% compared to the BSE500's negative return of -4.13%. This disparity highlights the challenges faced by IRM Energy, particularly in light of falling participation from institutional investors and the company's expensive valuation metrics, which may contribute to ongoing investor skepticism despite the recent price increase.