Why is Nitin Spinners falling/rising?

As of 18-Aug, Nitin Spinners Ltd is experiencing a rise in its stock price, currently at 345.00, reflecting an increase of 19.95 or 6.14%. Today, the stock opened with a gain of 7.01% and reached an intraday high of Rs 347.85. Despite this positive movement, the stock has shown a decline of 11.08% over the past month and a significant drop of 23.25% year-to-date. However, it has outperformed its sector by 3.77% today, and the company demonstrates high management efficiency with a return on capital employed (ROCE) of 16.20%. The stock is trading at a discount compared to its peers, and while it has generated a negative return of -17.50% over the past year, its profits have increased by 20.4%, indicating healthy long-term growth potential.
In the broader market context, Nitin Spinners' short-term return of +2.43% over the past week outpaces the Sensex, which has only increased by 0.83% during the same period. This suggests that while the stock is currently rising, it has faced challenges over the longer term, as evidenced by its year-to-date performance compared to the Sensex's positive return of 4.01%. Additionally, there has been a notable decline in investor participation, with delivery volume dropping significantly, which could impact future price movements. Overall, the stock's recent rise can be attributed to its strong operational performance and favorable valuation, despite broader market pressures and declining trading activity.