Why is Hariom Pipe falling/rising?

As of 29-Aug, Hariom Pipe Industries Ltd is experiencing a price increase, currently at 483.80, reflecting a change of 2.45 (0.51%) upward. The stock has outperformed its sector by 1.4% today and has shown consecutive gains over the last two days, rising by 0.9% during this period. However, it is important to note that the stock has underperformed in the short term, with a 1-week return of -2.52% compared to the Sensex's -1.84%. Despite a significant decline of -40.86% over the past year, the company has demonstrated healthy long-term growth with net sales increasing at an annual rate of 47.58% and operating profit at 39.50%. The stock is trading at a discount relative to its peers, which may attract investors despite the low domestic mutual fund participation of only 0.44%.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has underperformed the market over the last year, which saw a negative return of -5.40%. While the stock has shown some positive movement recently, the overall trend indicates a struggle to regain investor confidence, particularly given its substantial decline in the past year. The falling investor participation, with a delivery volume decrease of -32.2% against the 5-day average, suggests caution among traders. Despite the positive financial metrics and attractive valuation, the stock's significant past losses may continue to weigh on its recovery in the broader market.