Why is Apollo Tyres falling/rising?

As of 04-Nov, Apollo Tyres Ltd. is experiencing a price increase, with its current price at 522.20, reflecting a rise of 12.15 (2.38%). The stock has shown strong performance recently, gaining 4.12% over the last two days and outperforming its sector by 1.16% today. It has also touched an intraday high of Rs 528.45. Over the past week, Apollo Tyres has returned 3.52%, while its one-month return stands at 10.43%. The company benefits from a low Debt to EBITDA ratio of 1.46 times, indicating a strong ability to service debt, and has demonstrated healthy long-term growth with net sales increasing at an annual rate of 12.12%. Despite a profit decline of 38.3% over the past year, the stock is trading at a discount compared to its peers, supported by high institutional holdings at 41.4%.
In the broader market context, Apollo Tyres has outperformed the Sensex, which has declined by 1.38% over the past week, while the stock has risen. This performance is indicative of strong investor confidence, as evidenced by a 25.55% increase in delivery volume compared to the five-day average. The stock's liquidity is also favorable, allowing for significant trading activity. Overall, Apollo Tyres' recent gains can be attributed to its solid financial fundamentals, positive market sentiment, and a favorable comparison to the broader market performance.