Why is APL Apollo Tubes falling/rising?

As of 05-Aug, APL Apollo Tubes Ltd's stock price is currently at 1,610.80, reflecting an increase of 24.05 or 1.52%. Today's price summary indicates that the stock has outperformed its sector by 1.46% and has experienced a trend reversal after two consecutive days of decline. Although it opened with a loss of 2.14%, it reached an intraday high of Rs 1,633.6, demonstrating some recovery. Over the past week, the stock has gained 6.03%, contrasting with a decline of 6.42% over the past month. The company shows strong long-term fundamentals, with a robust return on capital employed (ROCE) of 26.81% and healthy growth in net sales and operating profit. Additionally, high institutional holdings at 49.88% suggest confidence in the company's prospects, further supporting the stock's upward movement.
Broader market context reveals that while APL Apollo Tubes has outperformed the Sensex in the short term, with a 1-week return of 6.03% compared to the benchmark's decline of 0.77%, it has underperformed over the past month, where the stock fell by 6.42% against the Sensex's 3.26% decline. This indicates that despite some positive momentum, the stock's recent performance is mixed when viewed against broader market trends. The company's strong fundamentals and institutional backing may provide a buffer against broader market volatility, but the falling investor participation and liquidity concerns could pose challenges moving forward.