Why is Hariom Pipe falling/rising?

As of 15-Sep, Hariom Pipe Industries Ltd is experiencing a price increase, currently at Rs 529.05, reflecting a rise of Rs 45.0 or 9.3%. The stock has shown strong performance today, outperforming its sector by 8.43% and achieving a consecutive gain over the last two days with a total return of 12.76%. It has also traded at an intraday high of Rs 539.8, indicating significant investor interest. Over the past week, the stock has risen by 8.13%, and over the last month, it has increased by 9.38%. Positive factors contributing to this rise include healthy long-term growth with net sales growing at an annual rate of 47.58% and operating profit at 39.50%. However, the stock has underperformed over the past year, with a decline of 31.63%, which may raise concerns among investors.
Broader market context shows that while the stock has outperformed the benchmark Sensex in the short term, which has only increased by 1.24% over the past week, it has still faced challenges over the longer term, as indicated by its significant decline compared to the broader market's negative return of -1.33% over the past year. The low stake of domestic mutual funds at only 0.44% suggests a lack of confidence in the stock's valuation, despite its attractive metrics such as a return on capital employed (ROCE) of 13.6 and a PEG ratio of 3.3. This mixed sentiment in the market may contribute to the volatility in the stock's price movements.