Why is Kitex Garments falling/rising?

As of 14-Aug, Kitex Garments Ltd is currently priced at 174.20, reflecting a decline of 4.6 points or 2.57%. The stock has underperformed its sector by 1.64% today and has experienced a trend reversal after two consecutive days of gains. It opened with a gain of 4.98% but reached an intraday low of Rs 170.05, indicating significant volatility with a wide trading range of Rs 17.65. Over the past week, the stock has decreased by 3.03%, and its year-to-date performance shows a decline of 20.98%, contrasting sharply with its impressive one-year return of 83.87%. Despite the strong EBIT to Interest ratio of 20.62, indicating the company's ability to service its debt, the recent drop in delivery volume by 82.52% against the five-day average suggests waning investor interest, contributing to the stock's downward movement.
In the broader market context, Kitex Garments has underperformed compared to the benchmark Sensex, which has shown a minimal decline of 0.03% over the past week. The stock's year-to-date performance is notably poor compared to the Sensex's positive return of 3.15%, highlighting a significant divergence in performance. While Kitex Garments has outperformed the market over the past year, the recent trends indicate a struggle to maintain momentum, especially in light of falling investor participation and trading below key moving averages. This combination of factors has likely contributed to the stock's current decline.