Why is APL Apollo Tubes falling/rising?

As of 21-Aug, APL Apollo Tubes Ltd is experiencing a price increase, currently at Rs 1,653.20, reflecting a rise of 23.25 (1.43%). The stock has shown strong performance today, outperforming its sector by 1.67% and achieving a consecutive gain over the last six days, with a total return of 4.52% during this period. It reached an intraday high of Rs 1,668.5, although it is trading below its 50-day and 100-day moving averages. Despite a decline in investor participation, as indicated by a 15.11% drop in delivery volume, the stock's long-term fundamentals remain robust, with a strong Return on Capital Employed (ROCE) of 26.81% and consistent growth in net sales and operating profit.
Broader Market Context: In the short term, APL Apollo Tubes has outperformed the benchmark Sensex, which has increased by 1.74% over the past week compared to the stock's 2.84% gain. This performance is particularly notable given that the stock has generated a return of 21.55% over the past year, significantly higher than the Sensex's 1.35% increase. The stock's strong institutional holdings at 49.88% and their recent increase in stake further bolster investor confidence, suggesting that informed investors see value in the company's fundamentals despite recent fluctuations in trading volume.