Why is Hariom Pipe falling/rising?

As of 13-Jun, Hariom Pipe Industries Ltd is experiencing a decline in its stock price, currently at Rs 398.30, reflecting a decrease of Rs 10.7 or 2.62%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 7.07% during this period. Today's trading saw the stock hit an intraday low of Rs 395.35, and it has underperformed its sector by 1.73%. Over the past week, the stock has decreased by 6.02%, while its performance over the past month shows a modest increase of 7.03%. However, year-to-date, the stock has significantly underperformed with a decline of 20.12%. Despite a healthy long-term growth in net sales and operating profit, the stock's negative return of -30.37% over the past year indicates a lack of investor confidence, particularly as domestic mutual funds hold only a minimal stake in the company.
In the broader market context, the Sensex has shown a slight decline of 1.30% over the past week, which contrasts with Hariom Pipe's more substantial drop. The stock's performance has lagged behind the market, as evidenced by its negative returns compared to the BSE 500, which has generated a positive return of 3.05% over the past year. This underperformance, coupled with falling investor participation and a significant drop in delivery volume, suggests that market sentiment towards Hariom Pipe is weak. The company's attractive valuation metrics, such as a ROCE of 14.2 and a PEG ratio of 15.4, have not been enough to offset the negative perception stemming from its flat results and low mutual fund interest, contributing to the ongoing decline in its stock price.