Why is Apollo Pipes falling/rising?

As of 25-Aug, Apollo Pipes Ltd is experiencing a decline in its stock price, currently at 399.45, reflecting a decrease of 3.35 points or 0.83%. The stock has underperformed its sector today by 1.08% and has been on a consecutive downward trend for the last three days, resulting in a total return of -1.42% during this period. Over the past week, the stock has shown a modest gain of 1.82%, but it has significantly underperformed in the longer term, with a year-to-date decline of 13.91% and a one-year drop of 30.89%. The company's financial health is a concern, as indicated by a low return on equity of 4.1 and a high price-to-book value ratio of 2.3, suggesting an expensive valuation despite a low debt-to-EBITDA ratio of 1.31. Furthermore, the recent negative financial results, including a 38.9% drop in profit before tax and a 6.9% decrease in net sales, contribute to the stock's poor performance.
In the broader market context, the stock's short-term performance contrasts with the benchmark Sensex, which has gained 0.45% over the past week. While institutional investors have increased their stake in Apollo Pipes by 1.99% in the last quarter, indicating some confidence in the company's potential, the overall sentiment remains cautious due to the company's poor long-term growth prospects and recent financial results. The stock's liquidity appears adequate for trading, but the significant drop in delivery volume by 49.04% against the five-day average suggests declining investor interest. This combination of factors has led to a bearish outlook for Apollo Pipes Ltd, as it continues to struggle against both sector performance and broader market trends.