Why is Kitex Garments falling/rising?

As of 23-Oct, Kitex Garments Ltd is experiencing a significant rise in its stock price, currently at Rs 213.85, reflecting an increase of Rs 27.35 or 14.66%. The stock has shown strong performance today, outperforming its sector by 13.39% and achieving a consecutive gain over the last two days with a total return of 14.91%. It opened with a notable gap up of 12.41% and reached an intraday high of Rs 219.7, marking a 17.8% increase. Despite this positive momentum, there has been a concerning decline in investor participation, with delivery volume dropping by 71.87% against the 5-day average, indicating potential caution among investors. The stock's performance over various periods shows a 1-week return of 11.58% and a 1-year return of 33.67%, although it remains down 2.99% year-to-date.
In the broader market context, Kitex Garments has outperformed the Sensex, which only increased by 1.30% over the past week and 2.99% over the past month. While the stock has shown impressive long-term gains, such as a 219.23% increase over three years and a 519.53% increase over five years, its year-to-date performance lags behind the benchmark's 8.21% gain. This disparity highlights the stock's volatility and the potential for future growth, but the recent drop in delivery volume suggests that investors may be exercising caution despite the stock's current upward trend.