Why is Kitex Garments falling/rising?

As of 29-Jul, Kitex Garments Ltd is experiencing a decline in its stock price, currently at Rs 239.80, which reflects a decrease of Rs 7.95 or 3.21%. The stock has underperformed its sector by 3.85% today and has been on a downward trend, losing 9.17% over the past three days. It opened with a gap down of 2.72% and reached an intraday low of Rs 235.4, indicating significant selling pressure. Despite a strong year-to-date performance of 8.78% and an impressive 212.95% return over the past year, the stock has faced challenges recently, including a 14.72% decline over the past month and a notable drop in delivery volume by 33.9% against the five-day average.
In the broader market context, while the Sensex has only decreased by 1.03% over the past week, Kitex Garments has seen a much steeper decline, suggesting that the stock is underperforming relative to the market. The company's strong financial metrics, such as a healthy EBIT to Interest ratio and consistent positive results over the last six quarters, indicate its ability to service debt effectively. However, the recent price movements and falling investor participation may reflect market sentiment that is cautious despite the company's solid fundamentals.