Why is SP Apparels falling/rising?

As of 01-Jul, SP Apparels Ltd. is experiencing a decline in its stock price, currently at Rs 841.00, reflecting a decrease of Rs 23.0 or 2.66%. Today's price summary indicates that the stock underperformed its sector by 2.02% and has reversed its trend after two consecutive days of gains. The stock opened with a gain of 2.66% but reached an intraday low of Rs 838.5, suggesting volatility within the trading day. Over the past week, SP Apparels has shown a return of +1.86%, while its performance over the last month stands at +3.90%. Despite a strong historical performance with a 9.67% return over the past year and a significant 130.16% increase over three years, the stock's year-to-date performance is down by 8.43%. The company maintains a low Debt to EBITDA ratio of 1.11 times and has a high institutional holding of 21.49%, indicating strong fundamentals, but the current PEG ratio of 4.1 suggests that the stock may be overvalued relative to its earnings growth.
In the broader market context, SP Apparels' short-term performance has lagged behind the benchmark Sensex, which has returned +2.00% over the past week and +2.76% over the past month. This underperformance may be contributing to the stock's recent decline, as investors often compare individual stock performance against broader market indices. The stock's liquidity remains adequate for trading, but the recent trend reversal and the current price drop may reflect market sentiment shifting away from SP Apparels, despite its strong historical returns and attractive valuation compared to peers.