Why is EID Parry falling/rising?

As of 23-Jul, EID Parry (India) Ltd is experiencing a price increase, currently at Rs 1,182.00, reflecting a rise of Rs 20.2 or 1.74%. The stock has shown strong performance today, opening with a gain of 2.26% and reaching an intraday high of Rs 1,188, which is only 0.59% away from its 52-week high. It has outperformed its sector by 2.34% today and is trading above all its moving averages, indicating a strong upward trend. Additionally, the stock has demonstrated impressive returns over various periods, including a 55.60% increase over the past year and a remarkable 307.59% rise over the last five years. The company benefits from a low debt-to-equity ratio and high institutional holdings, which have increased by 1.12% in the last quarter, suggesting confidence from larger investors.
In the broader market context, EID Parry's short-term performance of +2.88% over the past week significantly outpaces the Sensex, which has only gained 0.11% in the same timeframe. This trend of outperformance continues in the longer term, with EID Parry achieving a 21.82% increase over the past month compared to the Sensex's 1.01%. The company's substantial market capitalization and its dominance in the sector, constituting 27.25% of the entire industry, further bolster investor confidence, contributing to the stock's rising price. Overall, the combination of strong performance metrics, rising investor participation, and favorable institutional sentiment supports the upward movement of EID Parry's stock price.