Why is Nitin Spinners falling/rising?

As of 11-Nov, Nitin Spinners Ltd is experiencing a price increase, currently at Rs 338.25, reflecting a rise of Rs 13.7 or 4.22%. The stock has shown strong performance recently, gaining 10.68% over the last two days and outperforming its sector by 3.4%. In terms of returns, the stock has increased by 5.70% over the past week and 5.69% over the past month, although it has underperformed significantly year-to-date with a decline of 24.75%. Despite this, the company has demonstrated healthy long-term growth, with an annual operating profit growth rate of 29.06%, and is trading at a discount compared to its peers' historical valuations.
Broader market context indicates that while Nitin Spinners has outperformed the Sensex in the short term, it has still underperformed over the last year, with a return of -17.00% compared to the market's 4.43%. The stock's recent gains may be attributed to its attractive valuation metrics, such as a low PEG ratio of 1.5 and a favorable return on capital employed (ROCE) of 1.7. However, the company faces challenges, including a significant drop in quarterly net sales and profit after tax, which could impact investor sentiment moving forward.