Why is Apollo Pipes falling/rising?

As of 17-Sep, Apollo Pipes Ltd is experiencing a decline in its stock price, currently at Rs 398.70, reflecting a decrease of Rs 8.45 or 2.08%. The stock has underperformed its sector today by 1.47% and has fallen after two consecutive days of gains. It touched an intraday low of Rs 397.05, which is a drop of 2.48%. Over the past week, the stock has decreased by 0.30%, while it has shown a modest increase of 6.29% over the past month. However, the long-term performance remains concerning, with a year-to-date decline of 14.07% and a staggering 35.80% drop over the past year. The company has a low Debt to EBITDA ratio of 1.31, indicating a strong ability to service its debt, but it also faces challenges such as a poor long-term growth rate in operating profit and negative results in recent quarters.
In the broader market context, the Sensex has increased by 1.56% over the past week and 2.60% over the past month, indicating that Apollo Pipes is lagging behind the overall market performance. While institutional investors have increased their stake by 1.99%, suggesting growing confidence in the company's fundamentals, the stock's valuation remains expensive with a Price to Book Value of 2.3, and it has generated negative returns over the past year. The combination of poor financial results, underperformance relative to benchmarks, and a declining stock price suggests that investor sentiment is currently negative, contributing to the stock's downward movement.