Why is Kitex Garments falling/rising?

As of 30-Jun, Kitex Garments Ltd is experiencing a slight decline in its stock price, currently at 281.00, reflecting a decrease of 0.2 (-0.07%). The stock has underperformed its sector by 0.91% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 1.07%. Despite this recent downturn, Kitex Garments has shown strong performance over the longer term, with a remarkable 306.84% increase in the past year and a 27.47% rise year-to-date. The company has consistently reported positive results over the last six quarters, with significant growth in net sales and profit after tax, indicating a robust operational performance that supports its valuation.
In the broader market context, while Kitex Garments has underperformed in the short term, it has outpaced the benchmark Sensex over various periods, including a 1-week return of 11.29% compared to the Sensex's 2.09%. This suggests that while the stock is currently facing some selling pressure, its long-term trajectory remains strong, bolstered by solid earnings and a healthy ability to service debt. However, a notable decline in investor participation, with delivery volume falling by 30.73% against the 5-day average, may be contributing to the recent price drop, indicating a potential decrease in market confidence despite the company's strong fundamentals.