Why is Kitex Garments falling/rising?

As of 25-Aug, Kitex Garments Ltd is experiencing a decline in its stock price, currently at Rs 188.55, reflecting a decrease of Rs 9.9 or 4.99%. The stock has underperformed its sector by 4.36% today and has been on a consecutive downward trend for the last two days, with a total drop of 9.72% in this period. It opened with a loss of 2.72% and reached an intraday low of Rs 188.55. In terms of longer-term performance, while the stock has generated a notable return of 50.76% over the past year, it has seen a significant decline of 27.99% over the past month. Despite these challenges, the company's ability to service its debt remains strong, indicated by a healthy EBIT to Interest ratio of 20.62, which may provide some stability amidst the recent price fluctuations.
In the broader market context, Kitex Garments' recent performance contrasts with the benchmark Sensex, which has shown a modest increase of 0.21% over the past month. The stock's short-term decline is particularly pronounced given that it has fallen significantly while the broader market has remained relatively stable. Additionally, the stock's liquidity appears adequate, with a delivery volume increase of 13.69% against the five-day average, suggesting some investor interest despite the price drop. Overall, while Kitex Garments has outperformed the market over the past year and has a strong debt servicing capability, the recent price movements indicate a struggle in the short term, compounded by broader market conditions.