Why is Hariom Pipe falling/rising?

As of 25-Jul, Hariom Pipe Industries Ltd is experiencing a decline in its stock price, currently at Rs 457.50, which represents a decrease of Rs 15.3 or 3.24%. The stock has underperformed its sector today by 1.44% and has been on a consecutive downward trend for the last three days, accumulating a total decline of 9.13%. The stock touched an intraday low of Rs 452.3, indicating significant selling pressure. Over the past week, the stock has decreased by 1.89%, and its year-to-date performance shows a decline of 8.25%. Despite a long-term growth outlook with net sales increasing at an annual rate of 49.01% and operating profit at 38.85%, the stock's recent performance has been negatively impacted by a high PEG ratio of 17.6 and a return of -33.67% over the past year, despite profits rising by 8.7%.
In the broader market context, the Sensex has shown a slight decline of 0.36% over the past week, indicating a relatively stable market environment compared to the stock's sharper decline. The stock's performance has been notably weaker than the benchmark, particularly in the short term, where it has underperformed the Sensex. The falling investor participation, with a significant drop in delivery volume, suggests a lack of confidence among investors, further contributing to the stock's downward trajectory. While the stock is trading at a discount compared to its peers, the current market sentiment and recent performance trends indicate challenges that may hinder a recovery in the near term.