Why is Apollo Tyres falling/rising?

As of 09-Jul, Apollo Tyres Ltd. has seen its stock price rise to 474.00, reflecting an increase of 2.3 (0.49%). The stock has been gaining for the last three days, with a total return of 3.1% during this period. However, it has underperformed its sector by 1.13% today. In terms of longer-term performance, the stock has shown a 1.58% increase over the past week, but it has significantly lagged behind the benchmark Sensex, which has returned 0.15% in the same timeframe. Despite a strong ability to service debt and healthy long-term growth in operating profit, the company has faced challenges, including negative results for the last four consecutive quarters and a substantial decline in profits over the past year, which has contributed to its overall negative return of -11.72% over the last year.
Broader market context indicates that while Apollo Tyres has experienced a short-term rise, it has underperformed the broader market significantly over the past year, where the BSE500 has generated returns of 1.43%. The stock's recent gains come amidst a backdrop of falling investor participation, as evidenced by a decrease in delivery volume. Moreover, despite high institutional holdings, which typically provide a buffer against volatility, the stock's negative performance in the long term raises concerns about its valuation relative to peers. Overall, while the recent price movement shows a slight upward trend, the underlying fundamentals and broader market performance suggest caution for investors.