Why is SP Apparels falling/rising?

As of 02-Jul, SP Apparels Ltd. is experiencing a price increase, with its current price at Rs 857.95, reflecting a rise of Rs 16.95 or 2.02%. The stock has outperformed its sector by 1.8% today and reached an intraday high of Rs 862.7. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 44.94% compared to the 5-day average. Over the past year, the stock has generated a return of 12.96%, which is notably higher than the Sensex's 5.00% return, although it has underperformed year-to-date with a decline of 6.58% compared to the Sensex's gain of 6.75%. The company's low Debt to EBITDA ratio of 1.11 times and a favorable ROCE of 12 further support its valuation, making it attractive compared to peers.
In the broader market context, SP Apparels' short-term performance over the past week shows a gain of 1.66%, which is better than the Sensex's increase of 0.79%. This indicates that the stock is gaining traction relative to the overall market. The high institutional holdings at 21.49% suggest that knowledgeable investors are backing the stock, which may contribute to its stability and growth potential. The consistent returns over the last three years, along with the company's ability to service debt effectively, further bolster investor confidence, despite the stock's recent underperformance on a year-to-date basis.