Why is Kitex Garments falling/rising?

As of 28-Jul, Kitex Garments Ltd is currently priced at 247.75, reflecting a decline of 14.1 points or 5.38%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total drop of 6.16% during this period. Today's trading activity indicates that the stock touched an intraday low of Rs 246.85, with a weighted average price showing more volume traded closer to this low. Additionally, the stock's delivery volume has decreased by 6.8% compared to the 5-day average, suggesting a decline in investor participation. Despite these short-term challenges, the company has demonstrated strong financial health, with a robust EBIT to Interest ratio of 20.55 and positive results over the last six quarters, including significant growth in net sales and profits.
In the broader market context, Kitex Garments has underperformed the benchmark, with a 1-week return of -8.51% compared to the Sensex's -1.59%. While the stock has outperformed the market over the longer term, with a remarkable 226.42% return over the past year against the BSE500's -2.52%, the recent short-term performance indicates a divergence from this trend. The stock's current decline may be attributed to a combination of reduced trading activity and investor sentiment, despite its strong fundamentals and historical performance.