Why is Apollo Pipes falling/rising?

As of 26-Sep, Apollo Pipes Ltd is experiencing a decline in its stock price, currently at Rs 340.00, which reflects a decrease of Rs 29.0 or 7.86%. The stock has been underperforming significantly, with a consecutive fall over the last five days, resulting in a total return of -15.65% during this period. Today's trading saw the stock touch an intraday low of Rs 339, and it is trading below all key moving averages. Despite a rise in delivery volume by 53.92% against the five-day average, the overall sentiment remains negative due to poor long-term growth indicators, including a -22.50% annual rate of operating profit growth over the last five years and disappointing recent financial results, such as a -38.9% decline in profit before tax.
In the broader market context, Apollo Pipes has significantly underperformed compared to the Sensex, which has only declined by 2.66% over the past week. The stock's year-to-date performance shows a stark contrast, with a -26.72% return compared to the Sensex's +2.93%. While there has been increasing participation from institutional investors, who now hold 19.54% of the company, the overall negative financial performance and high valuation concerns, including a low return on equity of 4.1 and a price-to-book ratio of 2, contribute to a bearish outlook for the stock.