Why is Kitex Garments falling/rising?

As of 18-Aug, Kitex Garments Ltd's stock price is currently at Rs 180.50, reflecting an increase of Rs 6.3 or 3.62%. The stock has shown a strong performance today, outperforming its sector by 1.25% and opening with a gain of 2.76%. It reached an intraday high of Rs 180.50, and despite being lower than the 20-day, 50-day, 100-day, and 200-day moving averages, it is higher than the 5-day moving average. Over the past week, the stock has gained 11.28%, significantly outperforming the Sensex, which only increased by 0.83%. Notably, the stock has generated impressive returns of 68.97% over the past year, despite a year-to-date decline of 18.12%. The company's strong ability to service its debt, indicated by a healthy EBIT to Interest ratio of 20.62, supports its recent upward movement.
In the broader market context, while the BSE500 has experienced negative returns of -1.14% over the last year, Kitex Garments has managed to stand out with substantial gains, highlighting its resilience. The textile sector has also seen a gain of 2.43%, contributing to the positive sentiment around Kitex Garments. Additionally, rising investor participation, evidenced by a significant increase in delivery volume, suggests growing confidence among investors, which may further support the stock's upward trajectory. Overall, the combination of strong company fundamentals and favorable sector performance appears to be driving the stock's recent rise.