Why is Apollo Pipes falling/rising?

As of 15-Sep, Apollo Pipes Ltd's stock price is currently at 393.50, reflecting an increase of 3.5, or 0.9%. The stock has shown a trend reversal today, gaining after two consecutive days of decline, and opened with a gain of 2.29%. It reached an intraday high of Rs 398.95. Despite this positive movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock has underperformed the benchmark Sensex over the past week with a return of -0.52%, while the Sensex gained 1.24%. However, there has been a notable increase in investor participation, with delivery volume rising significantly, and institutional investors have increased their stake, indicating a potential positive sentiment among more informed investors.
In the broader market context, while Apollo Pipes has shown a slight uptick today, its long-term performance remains concerning, with a year-to-date decline of 15.19% and a staggering 37.14% drop over the past year. The company's operating profit has decreased significantly over the last five years, and recent quarterly results have shown a decline in net sales and profitability. Despite the stock trading at a discount compared to its peers, the overall negative financial indicators and poor long-term growth prospects contribute to a cautious outlook, suggesting that while there may be short-term gains, the long-term trajectory remains unfavorable.