Why is Kitex Garments falling/rising?

As of 15-Jul, Kitex Garments Ltd is experiencing a price increase, with the current price at Rs 284.00, reflecting a rise of Rs 5.0 or 1.79%. The stock has shown a trend reversal, gaining after four consecutive days of decline, and today it reached an intraday high of Rs 285, which is a 2.15% increase. Despite a recent drop in investor participation, with delivery volume falling by 61.99% against the 5-day average, the stock has demonstrated strong performance over various periods, including a remarkable 291.18% return over the past year. The company's financial health is robust, evidenced by a strong EBIT to Interest ratio of 20.55 and consistent positive results over the last six quarters, which have contributed to the stock's upward movement.
In the broader market context, Kitex Garments has outperformed the Sensex in the short term, with a 1-month return of 6.17% compared to the benchmark's 1.79%. This outperformance is indicative of the stock's resilience and investor confidence, particularly given its strong long-term performance, generating 280.63% returns over the past three years. The stock's ability to maintain a higher return than the benchmark in both the short and long term suggests a favorable market perception, further supporting its recent price rise.