Why is Hariom Pipe falling/rising?

As of 11-Jul, Hariom Pipe Industries Ltd is experiencing a slight decline in its stock price, currently at 453.85, which reflects a decrease of 1.0 (-0.22%). The stock has been underperforming recently, having fallen for the last two days with a total return of -2.85%. Despite this, it has shown positive performance over the past week and month, with returns of +11.47% and +6.56%, respectively. However, the stock has significantly underperformed over the past year, with a return of -25.92%. The company has healthy long-term growth indicators, such as a 49.01% annual growth rate in net sales and an operating profit increase of 38.85%. Nevertheless, the stock's valuation appears attractive compared to peers, but the low domestic mutual fund ownership of only 0.44% raises concerns about investor confidence.
In the broader market context, while the Sensex has shown a slight decline of -1.12% over the past week, Hariom Pipe's recent performance has outpaced this benchmark. However, the stock's year-to-date performance is notably poor at -8.98%, contrasting with the Sensex's gain of +5.58%. This underperformance, coupled with a significant drop in investor participation and a decline in delivery volume, suggests a lack of confidence among investors. The stock's inability to attract domestic mutual funds and its flat results in March further contribute to the negative sentiment surrounding it, indicating that despite some positive growth metrics, the overall outlook remains challenging.