Why is Kitex Garments falling/rising?

As of 13-Aug, Kitex Garments Ltd is experiencing a price increase, currently at Rs 178.80, reflecting a rise of 8.5 points or 4.99%. The stock has shown a positive trend recently, gaining 10.23% over the last two days and outperforming its sector by 4.65% today. Despite this recent uptick, the stock is trading below its moving averages across various time frames, indicating potential challenges in sustaining this momentum. Over the past year, Kitex Garments has delivered impressive returns of 127.32%, significantly outperforming the broader market, which has seen negative returns of -0.64%. The company's strong ability to service its debt, highlighted by a healthy EBIT to Interest ratio of 20.62, supports its financial stability and may contribute to investor confidence.
In the broader market context, Kitex Garments' short-term performance contrasts with the Sensex, which has remained relatively flat with a change of -0.01% over the past week. While the stock has faced a decline of 5.45% over the last week and a substantial drop of 37.44% over the past month, its recent gains suggest a potential recovery phase. The significant increase in delivery volume, which rose by 551.57% against the 5-day average, indicates rising investor participation and interest, which could further bolster the stock's price in the near term.