Why is APL Apollo Tubes falling/rising?

As of 15-Sep, APL Apollo Tubes Ltd is currently priced at 1,707.40, reflecting a rise of 4.4 points or 0.26%. The stock has shown a positive trend, gaining 1.74% over the last two days, although it underperformed its sector by 0.61% today. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum. Despite this, there has been a notable decline in investor participation, with delivery volume falling by 44.01% compared to the 5-day average. The stock has demonstrated impressive long-term fundamentals, with a robust average Return on Capital Employed (ROCE) of 26.81%, and has shown healthy growth in net sales and operating profit. Additionally, the company has a low Debt to EBITDA ratio of 0.34 times, which enhances its ability to service debt, further supporting its positive outlook.
In the broader market context, APL Apollo Tubes has outperformed the benchmark, with a year-to-date return of 8.41% compared to the Sensex's 4.67%. Over the past year, while the stock has generated a return of 16.91%, the broader market has experienced a decline of 1.33%. This performance is bolstered by high institutional holdings at 49.88%, indicating confidence from larger investors who have increased their stake by 1.36% over the previous quarter. Despite the recent dip in delivery volumes, the stock's strong fundamentals and market-beating performance suggest that it remains an attractive investment, contributing to its rising price.