Why is APL Apollo Tubes falling/rising?

As of 08-Sep, APL Apollo Tubes Ltd's stock price is currently at 1,690.25, reflecting an increase of 23.75 or 1.43%. The stock has shown a trend reversal, gaining after two consecutive days of decline. It is performing well compared to its moving averages, being higher than the 5-day, 20-day, 50-day, and 200-day averages, although it is lower than the 100-day moving average. The stock has demonstrated strong performance over various periods, with a 1-week return of 3.20%, a 1-month return of 6.80%, and a year-to-date return of 7.32%. The company's fundamentals are robust, with a high Return on Capital Employed (ROCE) of 26.81%, significant growth in net sales and operating profit, and a low Debt to EBITDA ratio of 0.34 times. Additionally, the stock is trading at a fair valuation compared to its peers, which may attract investor interest.
In the broader market context, APL Apollo Tubes has outperformed the benchmark, with a 1-year return of 19.52% compared to the Sensex's negative return of -0.49%. This strong performance is notable given that the broader market (BSE500) has generated negative returns of -3.07% over the past year. However, there are signs of falling investor participation, as indicated by a significant drop in delivery volume. Despite this, the stock's high institutional holdings at 49.88% suggest confidence from larger investors, which can positively influence market sentiment. Overall, the combination of strong fundamentals, positive recent performance, and institutional backing supports the stock's upward movement.