Why is IRM Energy falling/rising?

As of 23-Sep, IRM Energy Ltd's stock price is currently at 361.10, reflecting an increase of 13.75 or 3.96%. The stock has shown a significant performance today, outperforming its sector by 4.49% and reversing a trend after two consecutive days of decline. It reached an intraday high of Rs 393, marking a 13.14% increase. Over the past week, the stock has surged by 31.36%, while its one-month return stands at 29.78%. Despite a year-to-date increase of 3.78%, the stock has faced a decline of 20.42% over the past year. The company maintains a low debt-to-equity ratio, which is favorable and may contribute positively to investor sentiment.
In the broader market context, while IRM Energy has experienced substantial short-term gains, the benchmark Sensex has seen a slight decline of 0.34% over the past week. This indicates that the stock's recent rise is not reflective of the overall market trend, suggesting a strong individual performance. However, it's worth noting that there has been a significant drop in investor participation, with delivery volume falling by 58.03% against the five-day average, which could indicate potential concerns about sustained interest in the stock. Despite this, the liquidity remains adequate for trading, as the stock is liquid enough for a trade size of Rs 4.32 crore.