Why is EID Parry falling/rising?

As of 30-Jul, EID Parry (India) Ltd is experiencing a rise in its stock price, currently at Rs. 1,228.10, reflecting an increase of Rs. 16.5 or 1.36%. The stock has recently hit a new 52-week high of Rs. 1,246.4 and has outperformed its sector by 2.43%. Over the past three days, it has gained 5.6%, and it is trading above all key moving averages, indicating strong momentum. Additionally, the stock has shown impressive returns, with a 49.12% increase over the past year and a staggering 338.06% 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 previous quarter, suggesting confidence from knowledgeable investors.
In the broader market context, EID Parry's short-term performance stands in stark contrast to the benchmark Sensex, which has declined by 1.50% over the past week. While the stock has risen by 3.90% in the same period, it highlights the company's strong market position, as it constitutes 28.62% of its sector and generates 38.50% of the industry's annual sales. This significant market presence, coupled with rising investor participation and liquidity, reinforces the stock's upward trajectory despite a challenging market environment.