Why is IRM Energy falling/rising?

As of 24-Sep, IRM Energy Ltd is experiencing a decline in its stock price, currently at Rs 364.05, reflecting a decrease of Rs 5.35 or 1.45%. The stock opened the day with a loss of 2.88% and reached an intraday low of Rs 356.15, which is a drop of 3.59%. Despite this, the stock has shown positive performance over the past week and month, with returns of 10.37% and 30.84% respectively, outperforming the Sensex, which has seen a decline of 1.18% over the same week and a modest increase of 0.50% over the month. Additionally, IRM Energy is trading above its moving averages across various time frames, indicating a generally positive trend. The company also maintains a low debt-to-equity ratio, which is a favorable factor for investors.
In the broader market context, while IRM Energy has underperformed its sector by 0.37% today, its recent performance over the past week and month suggests a strong recovery compared to the benchmark. The stock's year-to-date return of 4.63% is slightly ahead of the Sensex's 4.58%, indicating resilience in a challenging market. However, the stock's one-year performance shows a significant decline of 19.10%, contrasting with the Sensex's smaller drop of 3.77%, which may contribute to investor caution. The rising investor participation, with a notable increase in delivery volume, suggests that there is still interest in the stock despite its current price decline.