Why is Apollo Pipes falling/rising?

As of 11-Sep, Apollo Pipes Ltd is experiencing a decline in its stock price, currently at 398.60, which reflects a decrease of 1.3 points or 0.33%. The stock has underperformed its sector today by 1.17% and has fallen after two consecutive days of gains. In terms of returns, the stock has shown a negative performance over the past week at -1.26%, while it has gained 2.36% over the last month. However, it has significantly underperformed over the longer term, with a year-to-date decline of 14.09% and a staggering 35.27% drop over the past year. Despite a low Debt to EBITDA ratio indicating a strong ability to service debt, the company has faced challenges with poor long-term growth, as evidenced by a -22.50% annual rate of operating profit growth over the last five years and negative results in recent quarters.
In the broader market context, the Sensex has shown a positive return of 1.03% over the past week, contrasting with Apollo Pipes' decline. While institutional investors have increased their stake in the company by 1.99% in the previous quarter, which could suggest a level of confidence, the overall sentiment remains cautious due to the company's poor financial performance, including a -38.9% drop in profit before tax compared to previous quarters. The stock's valuation appears expensive with a Price to Book Value of 2.3, and its return on equity stands at a low 4.1. This combination of factors contributes to the stock's ongoing struggles, as it continues to lag behind both its sector and broader market indices.