Why is APL Apollo Tubes falling/rising?

As of 14-Aug, APL Apollo Tubes Ltd's stock price is rising, currently at Rs 1,607.50, reflecting an increase of Rs 23.85 or 1.51%. The stock has shown a positive performance today, outperforming its sector by 2.97% and has been gaining for the last two days, with a total return of 1.63% during this period. It reached an intraday high of Rs 1,615.3, which is a 2% increase. In terms of returns, the stock has performed well over the past year with a gain of 13.41%, significantly outpacing the benchmark Sensex, which has only increased by 1.89% in the same timeframe. The company also boasts strong long-term fundamentals, with a robust return on capital employed (ROCE) of 26.81% and healthy growth in net sales and operating profit.
In the broader market context, while the BSE500 index has generated negative returns of -0.57% over the past year, APL Apollo Tubes has managed to deliver positive returns, indicating its resilience in a challenging market environment. The stock's recent upward movement can be attributed to high institutional holdings at 49.88%, which suggests confidence from knowledgeable investors, as well as a low debt to EBITDA ratio of 0.34 times, indicating a strong ability to service debt. However, it is important to note that there has been a decline in investor participation, with delivery volume falling by 53.39% against the 5-day average, which could be a concern for future price stability.