Why is Kitex Garments falling/rising?

As of 04-Jul, Kitex Garments Ltd is experiencing a price increase, currently at Rs 280.00, reflecting a rise of Rs 4.2 or 1.52%. The stock has shown positive momentum, gaining for the last two days with a total return of 2.66% during this period. It has outperformed its sector by 0.7% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has also reported strong financial performance, with net sales reaching Rs 300.17 crore and a significant growth in profit before tax and profit after tax, indicating robust operational health. Additionally, the stock has generated impressive returns over the past year, with a 298.72% increase, further solidifying its strong market position.
In the broader market context, Kitex Garments has outperformed the Sensex in the long term, with a year-to-date return of 27.02% compared to the Sensex's 6.77%. However, in the short term, the stock has slightly underperformed the benchmark over the last week, with a decline of 0.43% against the Sensex's 0.74% drop. Despite this, the rising investor participation, evidenced by a 32.41% increase in delivery volume, and the company's strong ability to service its debt contribute positively to investor sentiment, supporting the stock's upward movement.