Why is Nitin Spinners falling/rising?

As of 24-Jul, Nitin Spinners Ltd is experiencing a price increase, currently at 395.20, reflecting a rise of 2.85 or 0.73%. The stock has shown a positive trend today, outperforming its sector by 0.71% and reversing a two-day decline. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bullish momentum. Over the past week, the stock has gained 1.09%, while it has increased by 4.47% over the past month. Despite a year-to-date decline of 12.08%, the company has demonstrated strong management efficiency with a high return on capital employed (ROCE) of 16.20%, and it has reported positive results for the last four consecutive quarters, contributing to a favorable outlook.
In the broader market context, Nitin Spinners has outperformed the Sensex, which has seen a slight decline of 0.09% over the past week. The stock's performance is particularly notable given its significant long-term growth, with an annual operating profit increase of 29.44%. Although the stock has underperformed in the past year with a return of -7.79%, its profits have risen by 33.4%, suggesting a disconnect between stock price and underlying performance. The attractive valuation, indicated by a PEG ratio of 0.4 and a trading discount compared to peers, further supports the stock's upward movement despite a recent decrease in investor participation.