Why is Apollo Pipes falling/rising?

As of 06-Nov, Apollo Pipes Ltd is experiencing a decline in its stock price, currently at Rs. 294.65, which reflects a decrease of Rs. 5.7 or 1.9%. The stock has hit a new 52-week low of Rs. 291.1 today and has been underperforming, with a consecutive fall over the last three days resulting in a total drop of 4.66%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The stock's performance over the past month shows a significant decline of 14%, and year-to-date, it has fallen by 36.5%, contrasting sharply with the Sensex, which has gained 6.62% during the same period.
In the broader market context, Apollo Pipes' recent performance has been notably weaker than the benchmark index, as it has underperformed the Sensex by 1.85% over the past week. The stock's liquidity appears to be adequate, but there has been a notable decrease in investor participation, with delivery volume falling by 35.12% compared to the 5-day average. This decline in trading activity may contribute to the stock's downward pressure, reflecting a lack of confidence among investors. Overall, the combination of poor recent performance, low investor participation, and a bearish trend in moving averages suggests that Apollo Pipes is facing significant challenges in the current market environment.