Why is APL Apollo Tubes falling/rising?

As of 31-Jul, APL Apollo Tubes Ltd is experiencing a price increase, currently at 1,600.00, reflecting a rise of 34.0 or 2.17%. The stock has shown a positive trend recently, gaining for the last three consecutive days with a total return of 6.51% during this period. Although the stock's performance today outperformed its sector by 2.46%, it has seen a decline of 5.53% over the past week and 9.10% over the past month. The company has strong long-term fundamentals, with a robust return on capital employed (ROCE) of 26.81% and significant growth in net sales and operating profit. Additionally, the stock is trading at a discount compared to its peers, which may attract investors looking for value.
In the broader market context, while the stock has generated a return of 7.58% over the past year, the benchmark index, Sensex, has declined by 0.68%. This indicates that APL Apollo Tubes has outperformed the market despite recent short-term challenges. The stock's liquidity remains sufficient for trading, although there has been a notable decrease in investor participation, with delivery volume falling by 29.74% against the five-day average. High institutional holdings at 49.88% suggest confidence from larger investors, further supporting the stock's upward movement amidst a generally negative market environment.