Why is Hi-Tech Pipes falling/rising?

As of 06-Nov, Hi-Tech Pipes Ltd is experiencing a decline in its stock price, currently at Rs 105.15, reflecting a decrease of Rs 6.4 or 5.74%. The stock has underperformed its sector by 4.23% today and has been on a downward trend for the last three days, accumulating a total return of -8.41% during this period. It reached an intraday low of Rs 103.6, indicating significant volatility with an intraday fluctuation of 5.12%. Over the past week, the stock has fallen by 8.17%, and year-to-date, it has decreased by 34.12%, contrasting sharply with the Sensex, which has risen by 6.62% over the same period. Despite these declines, the company has shown healthy long-term growth with net sales increasing at an annual rate of 23.58% and operating profit at 26.08%, suggesting that while the stock price is currently under pressure, the fundamentals remain strong.
In the broader market context, Hi-Tech Pipes' recent performance has been notably weaker than the benchmark, as evidenced by its -8.17% return over the past week compared to the Sensex's -1.30%. This disparity highlights the stock's struggles relative to the overall market. Although the stock is trading at a discount compared to its peers and has seen rising investor participation, the significant drop in price and negative short-term returns indicate that investor sentiment is currently cautious. The company's return on equity stands at 5.8, and while it has generated a return of -42.96% over the past year, its profits have increased by 40.3%, suggesting that the market may be reacting more to recent price movements than to the underlying financial health of the company.