Why is Kitex Garments falling/rising?

As of 26-Sep, Kitex Garments Ltd is experiencing a decline in its stock price, currently at Rs 191.20, which reflects a decrease of Rs 8.45 or 4.23%. The stock has underperformed its sector by 2.34% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 7.86%. Additionally, the stock is trading below its moving averages across various time frames, indicating a bearish trend. Despite a strong historical performance with a 23.43% return over the past year, the company's recent financial results have shown concerning signs, including a significant drop in profit after tax and a low operating profit to interest ratio, which may be contributing to the current price decline.
In the broader market context, Kitex Garments has underperformed the benchmark Sensex, which has seen a decline of only 2.66% over the past week, while Kitex's stock has dropped by 13.19% in the same period. The stock's year-to-date performance is also negative at -13.26%, contrasting sharply with the Sensex's positive return of 2.93%. The lack of domestic mutual fund investment, which stands at 0%, may indicate a lack of confidence in the stock's valuation and growth potential, further influencing its downward trajectory in the market.