Why is Apollo Pipes falling/rising?

As of 29-Aug, Apollo Pipes Ltd is experiencing a price increase, with its current price at Rs 404.00, reflecting a rise of Rs 16.9 or 4.37%. The stock has shown a trend reversal by gaining after five consecutive days of decline, and today it outperformed its sector by 3.91%. The stock reached an intraday high of Rs 407.3, indicating positive momentum. Despite this, the stock has had a challenging year-to-date performance, down 12.93%, and a significant decline of 32.98% over the past year. Positive factors contributing to the recent price movement include a low Debt to EBITDA ratio of 1.31 times, indicating strong debt servicing ability, and increased participation from institutional investors, who have raised their stake by 1.99% in the last quarter.
In the broader market context, Apollo Pipes' short-term performance contrasts with the benchmark Sensex, which has declined by 1.84% over the past week. While the stock has shown some resilience today, its long-term growth prospects remain concerning, with a negative annual operating profit growth rate of -22.50% over the last five years and a return on equity of only 4.1. The stock's valuation appears expensive with a Price to Book Value of 2.3, and despite recent gains, it has underperformed the broader market indices over various time frames, including a 32.98% drop in the last year compared to the Sensex's modest gain.