Why is APL Apollo Tubes falling/rising?

As of 18-Sep, APL Apollo Tubes Ltd is experiencing a price increase, with its current price at 1,700.70, reflecting a change of 17.25 or 1.02% upward. The stock has outperformed its sector by 0.62% today and has shown a trend reversal after two consecutive days of decline. Despite a decrease in delivery volume by 46.32% against the 5-day average, the stock remains liquid enough for trades of Rs 1.7 crore. Over the past year, APL Apollo Tubes has generated a return of 18.35%, significantly outperforming the benchmark Sensex, which has only seen a 0.08% increase. The company also boasts strong long-term fundamentals, with a robust return on capital employed (ROCE) of 26.81%, and has shown healthy growth in net sales and operating profit.
In the broader market context, while the BSE500 has generated negative returns of -1.96% over the last year, APL Apollo Tubes has managed to deliver positive returns, indicating strong market-beating performance. The stock's performance over various periods, including a 59.18% increase over three years and a staggering 529.13% over five years, highlights its resilience and attractiveness to investors. Additionally, high institutional holdings at 49.88% suggest confidence from knowledgeable investors, further supporting the stock's upward movement. Overall, the combination of strong fundamentals, positive recent performance, and institutional backing contributes to the stock's rising price.