Why is Hariom Pipe falling/rising?

As of 01-Sep, Hariom Pipe Industries Ltd is experiencing a price increase, currently at Rs 494.40, reflecting a rise of 10.6 points or 2.19%. The stock has been gaining for the last three days, with a total return of 3.36% during this period. It has outperformed its sector by 1.23% today and reached an intraday high of Rs 499.15. Despite a decline in delivery volume by 9.48% against the 5-day average, the stock is trading above its moving averages across various time frames, indicating positive momentum. The company has shown healthy long-term growth, with net sales increasing at an annual rate of 47.58% and operating profit at 39.50%. Although the stock has a year-to-date return of -0.85%, its profits have risen by 15.2%, suggesting a potential for recovery.
In the broader market context, the stock's short-term performance of +0.28% over the past week contrasts with the Sensex, which has declined by 1.56% during the same period. This indicates that Hariom Pipe is performing relatively well compared to the overall market. The stock's positive results in June, including a significant operating profit to interest ratio and high net sales, contribute to its attractive valuation despite a negative return over the past year. The stock is trading at a discount compared to its peers, which may attract investors looking for value, further supporting its recent price rise.