Why is Kitex Garments falling/rising?

As of 03-Sep, Kitex Garments Ltd is experiencing a decline in its stock price, currently at Rs 189.20, which reflects a decrease of Rs 7.65 or 3.89%. Today's price summary indicates that the stock has underperformed its sector by 4.84% and has fallen after three consecutive days of gains, touching an intraday low of Rs 187.85. The stock's performance over the past week shows a gain of 5.61%, but it has a negative return of 12.47% over the past month. Despite this recent downturn, the company has demonstrated strong performance over the past year with a return of 42.83%, significantly outperforming the broader market, which has seen negative returns of 4.38%. Additionally, the company's ability to service its debt remains strong, as indicated by a healthy EBIT to Interest ratio of 20.62, which may provide some stability amid the recent price fluctuations.
In the broader market context, while Kitex Garments has shown resilience with a 1-year return of 42.83%, the stock's recent performance contrasts with the benchmark, as it has underperformed in the short term. The BSE500 index has only slightly declined by 0.04% over the past month, indicating that the stock's recent struggles are not entirely reflective of the overall market trend. The rising investor participation, with a notable increase in delivery volume, suggests that there may be interest in the stock despite its current challenges. However, the stock's position below the 50-day, 100-day, and 200-day moving averages indicates a bearish trend, which could be contributing to the current price decline.