Why is Kitex Garments falling/rising?

As of 01-Aug, Kitex Garments Ltd is experiencing a decline in its stock price, currently at Rs 216.15, which reflects a decrease of Rs 11.35 or 4.99%. The stock has underperformed its sector by 2.24% today and has been on a downward trend, falling consecutively for the last two days with a total decline of 11.23%. Additionally, the stock opened with a loss of 3.05% and reached an intraday low of Rs 216.15. Over the past week, Kitex Garments has seen a significant drop of 17.45%, and in the last month, it has decreased by 23.04%. Despite a strong performance over the past year with a return of 185.53%, the recent negative trends indicate a shift in investor sentiment, compounded by the stock trading below all key moving averages.
In the broader market context, the Sensex has only declined by 1.06% over the past week, highlighting that Kitex Garments' short-term performance is significantly worse than the benchmark. The textile sector has also faced a downturn, falling by 2.93%. While the company has demonstrated strong financial health with positive results over the last six quarters and a robust ability to service its debt, these factors have not been sufficient to counteract the recent stock price decline. The rising investor participation, indicated by a notable increase in delivery volume, suggests some interest in the stock, but it has not translated into price stability or growth amidst the broader market challenges.