Why is APL Apollo Tubes falling/rising?

As of 29-Jul, APL Apollo Tubes Ltd is experiencing a price increase, currently at 1,519.20, reflecting a rise of 16.95 or 1.13%. Today's price summary indicates that the stock has gained after two consecutive days of decline, although it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Notably, there has been a significant increase in investor participation, with delivery volume rising by 238.85% against the 5-day average. Despite a negative return of -8.50% over the past week and -13.41% over the past month, the stock has shown strong long-term fundamentals, including a robust return on capital employed (ROCE) of 26.81% and healthy growth in net sales and operating profit. Additionally, the company has a low debt-to-EBITDA ratio, indicating a strong ability to service its debt.
In the broader market context, APL Apollo Tubes' short-term performance has been underwhelming compared to the benchmark Sensex, which has only declined by -1.03% over the past week. However, the stock has outperformed the benchmark over a three-year period, with a return of +58.90% compared to the Sensex's +41.28%. The company benefits from high institutional holdings at 49.88%, which suggests confidence from larger investors who are better equipped to analyze the company's fundamentals. This institutional support, combined with the stock's fair valuation and positive growth indicators, may contribute to its recent upward movement despite the overall negative short-term trends.