Why is Hariom Pipe falling/rising?

As of 24-Sep, Hariom Pipe Industries Ltd is experiencing a price increase, currently at Rs 529.60, which reflects a rise of Rs 17.5 or 3.42%. Today's price summary indicates that the stock has outperformed its sector by 3.55% and has shown a trend reversal after two consecutive days of decline. The stock reached an intraday high of Rs 532, while the day's low was Rs 501.1. Over the past week, the stock has slightly underperformed the benchmark Sensex, with a return of -1.06% compared to the Sensex's -1.18%. However, on a monthly basis, the stock has gained 6.71%, significantly outperforming the Sensex's 0.50% increase. Positive factors contributing to the stock's recent movement include strong long-term growth in net sales and operating profit, as well as attractive valuations compared to peers, despite a notable decline of 31.22% over the past year.
Broader Market Context: The broader market context shows that while the stock has underperformed the market over the last year, it has demonstrated resilience in the short term with a positive monthly return. The stock's recent gains come amid rising investor participation, as indicated by a 4.83% increase in delivery volume compared to the five-day average. Despite the overall negative sentiment reflected in the domestic mutual funds' minimal stake in the company, the stock's attractive valuation and growth metrics may be drawing renewed interest from investors, contributing to its upward price movement.