Why is Kitex Garments falling/rising?

As of 10-Jul, Kitex Garments Ltd is currently priced at Rs 289.55, reflecting a decrease of Rs 4.85 or 1.65%. The stock has been underperforming recently, having fallen for two consecutive days with a total decline of 1.78%. Today's performance indicates that it has underperformed its sector by 1.35%, and it reached an intraday low of Rs 285.2, which is a drop of 3.13%. Despite this recent downturn, Kitex Garments has shown strong performance over longer periods, with a remarkable 308.10% return over the past year and consistent positive results over the last six quarters, including significant growth in net sales and profit after tax. However, a decline in investor participation, as evidenced by a 5.57% drop in delivery volume compared to the five-day average, may be contributing to the stock's recent price decline.
In the broader market context, Kitex Garments has outperformed the Sensex in both the short and long term, with a 4.99% increase over the past week compared to a negligible change in the benchmark. While the stock has shown strong returns year-to-date and over the past three years, the recent price drop could be attributed to short-term market fluctuations and reduced trading activity. The liquidity of the stock remains adequate for trading, but the recent decline in investor participation may signal caution among investors despite the company's strong fundamentals and ability to service its debt effectively.