Why is SP Apparels falling/rising?

As of 13-Jun, SP Apparels Ltd. is experiencing a decline in its stock price, currently at Rs 784.75, which reflects a decrease of Rs 25.2 or 3.11%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total drop of 8.22% during this period. Despite opening with a gain of 5.56% today and reaching an intraday high of Rs 854.95, it has also touched a low of Rs 781.3. The stock is trading below its moving averages across various timeframes, indicating a bearish trend. Additionally, there has been a significant drop in delivery volume, which has decreased by 28.64% compared to the five-day average, suggesting reduced investor interest. While the company has a strong ability to service debt and attractive valuations, the recent performance and high volatility have contributed to the stock's decline.
In the broader market context, SP Apparels has underperformed relative to the benchmark, with a one-week return of -6.03% compared to the Sensex's -1.30%. Over the past month, the stock has decreased by 10.66%, while the Sensex has remained relatively flat at -0.04%. Despite its strong long-term performance, including a 22.99% return over the past year and significant gains over three and five years, the recent short-term trends indicate a struggle against both market conditions and investor sentiment. The high institutional holdings may provide some stability, but the current market dynamics and declining participation are impacting the stock negatively in the short term.