Why is IRM Energy falling/rising?

As of 06-Nov, IRM Energy Ltd is experiencing a decline in its stock price, currently at Rs 300.80, which reflects a decrease of Rs 10.95 or 3.51%. The stock has underperformed its sector by 2.04% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 5.2%. Over the past week, the stock has fallen by 4.86%, and its year-to-date performance shows a decline of 13.55%. Despite having a low debt-to-equity ratio, which is generally favorable, the stock's recent performance indicates a struggle against broader market trends, as it has significantly underperformed compared to the Sensex over various time frames, including a 26.65% drop over the past year.
In the broader market context, the Sensex has shown resilience with a positive return of 6.62% year-to-date, contrasting sharply with IRM Energy's negative performance. The stock's recent trading activity indicates increased investor participation, with a notable rise in delivery volume, suggesting some interest despite the overall decline. However, the stock's current price is below several moving averages, which may signal bearish sentiment among investors. The liquidity of the stock remains adequate for trading, but the overall negative returns compared to the benchmark indicate that external market conditions are not favorable for IRM Energy at this time.