Why is Kitex Garments falling/rising?

As of 17-Jul, Kitex Garments Ltd is experiencing a price increase, currently at Rs 288.50, which reflects a rise of Rs 7.3 or 2.6%. Today's price summary indicates that the stock outperformed its sector by 2.32%, reaching an intraday high of Rs 293.8, a 4.48% increase, while the day's low was Rs 271.05, showing a decline of 3.61%. The stock has demonstrated strong performance over the past year with a remarkable return of 273.05%, significantly outperforming the BSE500 index. Additionally, the company has reported positive results for the last six consecutive quarters, showcasing growth in net sales, profit before tax, and profit after tax, which contributes to investor confidence and supports the stock's upward movement.
In the broader market context, Kitex Garments' short-term performance over the past week shows a slight decline of 0.36%, while the benchmark Sensex has fallen by 1.12%, indicating that the stock is holding up relatively well against the market. The company’s strong ability to service its debt, as evidenced by a healthy EBIT to Interest ratio, further bolsters its position. Despite a significant drop in delivery volume, the stock remains liquid enough for trading, which may attract investors looking for stability in a fluctuating market. Overall, the combination of strong financial performance and relative resilience against market trends contributes to the stock's rising price.