Why is Hi-Tech Pipes falling/rising?

As of 17-Nov, Hi-Tech Pipes Ltd is experiencing a price increase, currently at Rs 110.35, which reflects a rise of Rs 3.85 or 3.62%. The stock has been gaining for the last three days, with a total return of 4.4% during this period. It outperformed its sector by 3.59% today and reached an intraday high of Rs 111.3. However, despite this recent uptick, the stock has shown a decline of 3.88% over the past month and a significant drop of 34.51% over the past year. The company has a return on equity (ROE) of 6 and is trading at a discount compared to its peers, which may contribute to its current valuation being perceived as fair.
In the broader market context, Hi-Tech Pipes' short-term performance over the past week shows a return of 4.60%, significantly outperforming the Sensex, which only increased by 1.69% during the same period. Despite the recent gains, the stock's year-to-date performance remains poor at -30.86%, while the Sensex has risen by 8.72%. This contrast highlights the stock's struggle to keep pace with the broader market trends, even as it shows some positive movement in the short term. Additionally, the decline in investor participation, as indicated by a 27.77% drop in delivery volume, suggests that while the stock is currently rising, there may be underlying concerns about its long-term viability.