Why is IRM Energy falling/rising?

As of 12-Nov, IRM Energy Ltd's stock price is rising, currently at 329.40, reflecting an increase of 26.15, or 8.62%. The stock has shown strong performance today, outperforming its sector by 8.35% and achieving a consecutive gain over the last two days with a total return of 9.58%. It reached an intraday high of Rs 338.3, indicating significant upward momentum. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a positive trend. The company also has a low debt-to-equity ratio, which may contribute to investor confidence and support the stock's recent upward movement.
In the broader market context, IRM Energy's short-term return of +5.66% over the past week significantly outpaces the Sensex's return of +1.21% during the same period. However, over the longer term, the stock has underperformed, with a -4.13% return over the past month compared to the Sensex's +2.38%. This contrast highlights the stock's recent strength despite a generally weaker performance year-to-date and over the past year. The rising investor participation, with a notable increase in delivery volume, further indicates growing interest in the stock, which may be contributing to its current price rise.