Why is SP Apparels falling/rising?

As of 17-Nov, SP Apparels Ltd. is experiencing a price increase, currently at Rs 839.00, which reflects a rise of Rs 50.9 or 6.46%. The stock has shown strong performance today, outperforming its sector by 6.41% and has been on a consecutive gain streak for the last six days, accumulating a total return of 24.63% during this period. The stock opened with a gain of 2.06% and reached an intraday high of Rs 895.1, indicating significant upward momentum. Additionally, the stock is trading above its moving averages across various time frames, and there has been a notable increase in investor participation, with delivery volume rising by 102.75% against the five-day average. The company's strong fundamentals, including a low Debt to EBITDA ratio of 1.11 times and a healthy annual operating profit growth rate of 30.24%, contribute positively to its recent price movement.
In the broader market context, SP Apparels has significantly outperformed the benchmark Sensex over the past week and month, with returns of 21.31% and 21.15%, respectively, compared to the Sensex's 1.69% and 1.19%. This stark contrast highlights the stock's strong short-term performance relative to the market. While the stock has underperformed year-to-date with a decline of 8.65% compared to the Sensex's gain of 8.72%, its long-term growth prospects remain attractive, supported by a return on capital employed (ROCE) of 14.7 and a favorable PEG ratio of 0.7. The high institutional holdings at 21.28% suggest confidence from knowledgeable investors, further bolstering the stock's appeal amidst its recent price rise.