Why is APL Apollo Tubes falling/rising?

As of 03-Sep, APL Apollo Tubes Ltd is experiencing a price increase, currently at 1,674.25, reflecting a rise of 20.75 or 1.25%. The stock has shown a positive trend, gaining 4.77% over the last four days, although it underperformed its sector by 2% today. In terms of longer-term performance, the stock has outperformed the benchmark Sensex, with a 1-week return of 3.00% compared to the Sensex's -0.27%, and a year-to-date return of 6.30% versus the Sensex's 3.11%. The company benefits from strong long-term fundamentals, including a robust Return on Capital Employed (ROCE) of 26.81%, healthy growth in net sales and operating profit, and a low Debt to EBITDA ratio of 0.34 times. Additionally, high institutional holdings at 49.88% indicate confidence from sophisticated investors.
Broader Market Context: The stock's recent performance stands in contrast to the broader market, which has seen negative returns, particularly in the BSE500, which has declined by 4.38% over the past year. Despite this, APL Apollo Tubes has managed to generate a return of 17.00% in the same period, showcasing its resilience and strong market position. The sector's overall performance has also been positive, with a 3.3% gain in the Steel/Sponge Iron/Pig Iron sector, which may contribute to the stock's upward movement. However, a decline in investor participation, as indicated by a 33.58% drop in delivery volume, could pose a concern for future trading activity.