Why is Kitex Garments falling/rising?

As of 16-Jul, Kitex Garments Ltd is currently priced at 281.20, reflecting a decrease of 2.8, or 0.99%. The stock has underperformed its sector today by 1.52%, reaching an intraday low of Rs 276, which is a decline of 2.82%. Despite this short-term drop, the stock has shown strong performance over the longer term, with a 263.61% increase over the past year and a 704.65% rise over the last five years. However, there has been a notable decline in investor participation, with delivery volume falling by 78.66% compared to the five-day average. The company's financial health remains robust, evidenced by a strong EBIT to Interest ratio of 20.55 and consistent positive results over the last six quarters, which could support its valuation despite the recent price decline.
In the broader market context, Kitex Garments has experienced a 4.48% decline over the past week, while the Sensex has only decreased by 1.08%, indicating a relative underperformance in the short term. However, the stock has outperformed the benchmark in the longer term, with a 27.56% year-to-date return compared to the Sensex's 5.75%. This suggests that while the stock is facing some short-term challenges, its long-term trajectory remains strong, supported by solid financial performance and market-beating returns over multiple periods.