Why is Hi-Tech Pipes falling/rising?

As of 25-Jun, Hi-Tech Pipes Ltd is experiencing a price increase, currently at 102.54, reflecting a change of 1.89 or 1.88% upward. The stock has shown positive momentum, gaining 3.92% over the last two days and outperforming its sector by 0.89%. In the past week, it has risen by 3.96%, and over the past month, it has increased by 5.40%. Despite a year-to-date decline of 35.75%, the company reported strong quarterly results, including a 58.4% growth in profit after tax and a high operating profit to interest ratio of 5.29 times. The stock is also trading at a discount compared to its peers, with a price-to-book value of 1.7, which may attract investors looking for value.
In the broader market context, while Hi-Tech Pipes has underperformed the market over the past year with a decline of 22.67% compared to the Sensex's increase of 6.02%, its recent short-term performance has been more favorable. The stock's recent gains contrast with the benchmark's 1.61% rise over the past week, indicating a potential recovery phase. Additionally, the stock benefits from high institutional holdings at 25.36%, suggesting confidence from more knowledgeable investors. However, the significant underperformance over the last year remains a concern for potential investors.