Why is Nirlon falling/rising?

As of 25-Aug, Nirlon Ltd's stock price is rising, currently at 569.75, reflecting an increase of 15.75 or 2.84%. The stock has recently hit a new 52-week high of Rs 615, marking an 11.01% intraday gain. It has outperformed its sector by 2.5% today and has shown a trend reversal after three consecutive days of decline. Over the past week, Nirlon has delivered a return of 3.59%, significantly outperforming the Sensex, which only gained 0.45%. The stock's year-to-date return stands at 13.20%, while its one-year return is an impressive 29.69%, indicating strong performance relative to the broader market, which has seen minimal growth.
In the broader market context, while the BSE500 index has experienced negative returns of -2.11% over the past year, Nirlon has managed to generate substantial returns, showcasing its market-beating performance. However, the company does face risks due to its high debt levels, with a debt-to-equity ratio of 2.48 times, and a relatively expensive valuation indicated by a PEG ratio of 2.3. Despite these concerns, the stock's high management efficiency, reflected in a return on capital employed (ROCE) of 22.44%, and a high dividend yield of 4.69% at the current price contribute positively to investor sentiment, supporting the recent upward movement in its stock price.