Why is Kitex Garments falling/rising?

As of 18-Jul, Kitex Garments Ltd is currently priced at Rs 280.70, reflecting a decrease of Rs 7.8 or 2.7%. Today's performance indicates that the stock has underperformed its sector by 1.86%, with an intraday low of Rs 277.4, which represents a decline of 3.85%. Despite this short-term drop, the stock has shown strong performance over the past month, with a return of 7.49%, and an impressive year-to-date increase of 27.34%. The company has consistently reported positive results over the last six quarters, with net sales reaching Rs 300.17 crore and significant growth in profit before tax and profit after tax, which may support investor confidence despite the recent price decline. However, a notable drop in investor participation, with delivery volume falling by 92.24% against the 5-day average, may be contributing to the current downward pressure on the stock.
In the broader market context, Kitex Garments has outperformed the benchmark Sensex in the long term, with a remarkable 273.07% return over the past year compared to the Sensex's 0.51%. However, in the short term, the stock's decline of 1.78% over the past week contrasts with the Sensex's smaller decline of 0.90%, indicating that while the stock has been strong historically, it is currently facing challenges relative to the market. The liquidity of the stock remains adequate for trading, but the recent decrease in delivery volume suggests a potential shift in investor sentiment that could be influencing its current price movement.