Why is Kitex Garments falling/rising?

As of 08-Jul, Kitex Garments Ltd is experiencing a price increase, currently trading at Rs 294.80, which reflects a rise of Rs 12.85 or 4.56%. The stock has shown strong performance today, outperforming its sector by 2.73% and achieving a consecutive gain over the last four days with an overall increase of 8.08% during this period. Additionally, Kitex Garments has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company has also reported impressive financial results, with net sales reaching Rs 300.17 crore and significant growth in profit before tax and profit after tax, contributing to a robust EBIT to interest ratio of 20.55, which supports its ability to service debt.
In the broader market context, Kitex Garments has outperformed the Sensex, with a 1-week return of 4.97% compared to the benchmark's 0.02% and a year-to-date return of 33.73% against the Sensex's 7.13%. This strong performance highlights the company's market-beating results over both the short and long term, as it has generated a remarkable 311.77% return over the past year. The rising investor participation, evidenced by a 48.43% increase in delivery volume, further underscores the stock's attractiveness in the current market environment.