Why is EID Parry falling/rising?

As of 08-Aug, EID Parry (India) Ltd is experiencing a decline in its stock price, currently at Rs 1,115.25, which reflects a decrease of Rs 26.85 or 2.35%. The stock has underperformed its sector by 2.13% today and has been on a downward trend for the last two days, accumulating a total drop of 6.83%. Despite this short-term decline, the stock has shown positive performance over the past month with a 3.37% increase, and it has significantly outperformed the benchmark Sensex over the year, with a return of 46.10% compared to the Sensex's 1.23%. However, the stock's recent performance is tempered by a higher trading volume near its intraday low of Rs 1,083.5, indicating selling pressure.
In the broader market context, EID Parry's recent struggles come amidst a slight decline in the Sensex, which has fallen by 0.92% over the past week. The company boasts a low debt-to-equity ratio and strong growth in profit before tax and profit after tax, alongside high institutional holdings, which typically support stock stability. However, concerns about its valuation, indicated by a high price-to-book ratio and a recent profit decline of 11.7%, may be contributing to investor caution. Overall, while EID Parry has shown strong long-term performance and solid fundamentals, the current market sentiment appears to be influenced by short-term profit concerns and valuation issues.