Why is Iris Clothings falling/rising?

As of 02-Jul, Iris Clothings Ltd is experiencing a decline in its stock price, currently at 66.16, which reflects a decrease of 1.72 or 2.53%. Despite this drop, the stock has shown positive performance over the past week and month, with returns of 5.40% and 9.16%, respectively. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally upward trend in the longer term. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 26.34% compared to the 5-day average. However, today the stock underperformed its sector by 2.75%. Positive financial results reported for March 25, including a 47.9% growth in PAT and the highest operating profit to net sales ratio, suggest underlying strength, but the current price movement indicates a short-term setback.
In the broader market context, while Iris Clothings has outperformed the Sensex in the short term, with a 1-week return of 5.40% compared to the benchmark's 0.83%, it has struggled over the longer term, with a 1-year return of -1.96% versus the Sensex's 5.51%. This discrepancy highlights the stock's volatility and challenges in maintaining consistent performance. The significant declines over the 3-year and 5-year periods, at -65.81% and -52.74% respectively, further emphasize the stock's long-term difficulties, despite recent positive quarterly results.