Why is APL Apollo Tubes falling/rising?

As of 24-Jul, APL Apollo Tubes Ltd is experiencing a price increase, with its current price at 1,693.65, reflecting a rise of 7.25 or 0.43%. The stock has been gaining for the last two days, showing a total return of 2.01% during this period. While the stock's performance today is in line with its sector, it has seen a decline in delivery volume, which has fallen by 39.28% against the 5-day average. Despite a recent 5.89% drop over the past month, the stock has shown strong long-term performance, with a year-to-date return of 7.54% and a remarkable 816.87% increase over the last five years. The company's strong fundamentals, including a high Return on Capital Employed (ROCE) of 26.81% and a low Debt to EBITDA ratio of 0.34, support its positive outlook. Additionally, the stock is trading at a discount compared to its peers, and institutional holdings have increased, indicating confidence from larger investors.
In the broader market context, the stock's short-term return of 0.22% over the past week contrasts with a slight decline of 0.09% in the benchmark Sensex, suggesting that APL Apollo Tubes is outperforming the market in the short term. Over the last year, the stock has generated a return of 13.77%, significantly higher than the market's return of 2.54%, indicating strong market-beating performance. This positive trend, combined with the company's solid financial results and growth potential, contributes to the stock's rising price despite some recent volatility in delivery volumes.