Why is Hariom Pipe falling/rising?

As of 18-Jul, Hariom Pipe Industries Ltd is experiencing a decline in its stock price, currently at Rs 466.30, which reflects a decrease of Rs 11.7 or 2.45%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 3.01%. Today's trading saw the stock reach an intraday low of Rs 464.6, and it has underperformed its sector by 2.77%. Despite a positive trend in the past month with a return of 17.19%, the stock has a year-to-date decline of 6.49% and a significant drop of 31.83% over the past year. While the company shows healthy long-term growth with net sales increasing at an annual rate of 49.01%, the stock's recent performance is hindered by a lack of confidence from domestic mutual funds, which hold only a minimal stake of 0.44%.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has underperformed the Sensex, which has seen a slight increase of 0.38% over the past month. The stock's decline is particularly notable given that the overall market (BSE500) has only generated negative returns of -0.36% in the last year, while Hariom Pipe's return was significantly worse at -31.83%. This disparity suggests that investor sentiment towards the stock is weak, despite its attractive valuation and rising investor participation, as indicated by the increased delivery volume. The combination of flat results in March and the stock's substantial underperformance relative to the market may be contributing factors to its current price decline.