Why is EID Parry falling/rising?

As of 13-Aug, EID Parry (India) Ltd is experiencing a decline in its stock price, currently at Rs 1,138.90, reflecting a decrease of Rs 16.4 or 1.42%. The stock has underperformed its sector by 0.86% today and has shown a trend reversal after two consecutive days of gains. It touched an intraday low of Rs 1,132, which is a drop of 2.02%. Over the past week, the stock has decreased by 4.85%, while it has still managed to generate a significant return of 46.54% over the past year. Despite its strong long-term performance, including a year-to-date increase of 27.76%, recent investor participation has fallen, with delivery volumes decreasing by 36.04% compared to the five-day average.
In the broader market context, EID Parry's short-term performance has been notably weaker than the benchmark, with the Sensex showing a negligible change of -0.01% over the same week. The company benefits from a low debt-to-equity ratio and strong growth in profit before tax and profit after tax, alongside high institutional holdings which have increased by 1.12% over the previous quarter. However, concerns about its high valuation, indicated by a price-to-book value of 2.6 and a return on equity of 7.9, may be contributing to the stock's recent decline. Additionally, while the company has strong cash reserves and has outperformed the market in the long term, its profits have fallen by 11.7% over the past year, which could be impacting investor sentiment.