Why is EID Parry falling/rising?

As of 22-Jul, EID Parry (India) Ltd is experiencing a slight decline in its stock price, currently at Rs 1,161.80, which reflects a decrease of Rs 2.8 or 0.24%. Despite this minor drop, the stock has shown strong performance over the past month, with a return of 22.04%, and a remarkable 47.26% increase over the last year. Today, the stock reached a new 52-week high of Rs 1,188.95, indicating strong investor interest. Additionally, EID Parry is trading above its moving averages across various time frames, and there has been an increase in delivery volume, suggesting rising investor participation. The company's low debt-to-equity ratio and high institutional holdings, which have increased by 1.12% over the previous quarter, further support its stability and attractiveness to investors.
In the broader market context, EID Parry's short-term performance of +0.16% over the past week contrasts with the benchmark Sensex, which has declined by 0.47%. This indicates that EID Parry is outperforming the market in the short term. Furthermore, the stock has consistently outperformed the BSE500 over the last three years, one year, and three months, highlighting its strong market position. With a market capitalization of Rs 20,706 crore, EID Parry constitutes a significant portion of its sector, which may contribute to its resilience and continued investor confidence despite the current minor price drop.