Why is SP Apparels falling/rising?

As of 14-Nov, SP Apparels Ltd. is experiencing a price increase, currently at 800.00, reflecting a rise of 57.5 or 7.74%. The stock has shown strong performance recently, gaining 18.84% over the past week and outperforming its sector by 8.67% today. Despite opening down by 2.92%, it reached an intraday high of Rs 801.05, indicating volatility within a wide trading range of Rs 80.25. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend. However, there has been a decline in investor participation, with delivery volume falling by 35.82% compared to the 5-day average. The company maintains a low Debt to EBITDA ratio of 1.11 times and has demonstrated healthy long-term growth with an annual operating profit increase of 30.24%, which supports its recent price movement.
In the broader market context, SP Apparels has significantly outperformed the benchmark Sensex over the past week, which only increased by 1.62%. Although the stock has a year-to-date return of -12.89%, its three-year return of +116.13% highlights its strong long-term performance relative to the benchmark's +37.22%. The high institutional holdings at 21.28% indicate confidence from larger investors who are better equipped to analyze the company's fundamentals. Despite the recent price increase, the stock's PEG ratio of 3.7 suggests it may be overvalued compared to its profit growth, which could impact future performance.