Why is IRM Energy falling/rising?

As of 14-Aug, IRM Energy Ltd's stock price is currently at Rs 265.30, reflecting a decrease of Rs 5.7 or 2.1%. The stock has been on a downward trend, having underperformed its sector by 1.88% today and has experienced a consecutive fall over the last four days, totaling a decline of 5.5%. Over the past week, the stock has dropped by 3.49%, and it has significantly underperformed in the longer term, with a year-to-date decline of 23.75% and a staggering 38.60% drop over the past year. The company's operating profit has also seen a negative annual growth rate of 26.37% over the last five years, and its recent performance shows a 33.85% decline in profit after tax for the latest six months. Additionally, institutional investor participation has decreased, indicating a lack of confidence in the stock.
In the broader market context, while the Sensex has remained relatively stable with a minimal change of -0.03% over the past week, IRM Energy's performance has been notably poor, highlighting its struggles compared to the benchmark. The stock's liquidity remains adequate, but the overall sentiment is dampened by its high valuation relative to peers, with a price-to-book ratio of 1.1 and a return on equity of only 4.8%. This combination of poor financial performance, declining institutional interest, and significant underperformance against market benchmarks contributes to the ongoing decline in IRM Energy's stock price.