Why is Hariom Pipe falling/rising?

As of 16-Jul, Hariom Pipe Industries Ltd is experiencing a price increase, with its current price at 480.75, reflecting a change of 30.85 or 6.86% upward. Today's price summary indicates that the stock has outperformed its sector by 7.36% and has gained after four consecutive days of decline, reaching an intraday high of Rs 484.4. Despite a significant drop in delivery volume by 73.5% against the five-day average, the stock is trading above its moving averages across various time frames. While the stock has underperformed over the past year with a return of -31.70%, it has shown healthy long-term growth with net sales increasing at an annual rate of 49.01% and operating profit at 38.85%. The company’s attractive valuation and discount compared to peers may also contribute to the recent upward movement.
In the broader market context, the stock has outperformed the Sensex in the short term, with a one-week return of +2.91% compared to the benchmark's -1.08%. However, it has lagged behind the market over the past year, where the Sensex has returned +2.38%. The low domestic mutual fund ownership at only 0.44% raises concerns about institutional confidence in the stock, which may indicate hesitance at current price levels. Despite these challenges, the stock's recent performance suggests a potential recovery phase, driven by positive sales growth and a favorable valuation relative to its peers.