Why is EID Parry falling/rising?

As of 22-Aug, EID Parry (India) Ltd is experiencing a price increase, currently at 1,175.85, reflecting a rise of 5.95 or 0.51%. The stock has shown a positive trend, gaining 2.43% over the last three days and outperforming its sector by 1.03% today. In terms of longer-term performance, EID Parry has delivered impressive returns, with a year-to-date increase of 31.90% and a one-year return of 45.35%. The company benefits from a low debt-to-equity ratio of 0.02 times, a significant cash position of INR 47,537.2 million, and high institutional holdings at 27.12%, which have increased over the previous quarter. However, it faces challenges with a high valuation indicated by a price-to-book ratio of 2.6 and a decline in profits by 11.7% over the past year.
In the broader market context, EID Parry's short-term performance has been slightly lower than the benchmark Sensex, which has increased by 0.88% over the past week, while EID Parry's stock rose by 0.76%. Despite this, the company's strong fundamentals and market position, being the largest in its sector with a market cap of Rs 20,802 crore, contribute to its resilience and attractiveness to investors. The stock's ability to outperform the BSE500 over various periods further underscores its strong market performance, despite the noted risks associated with its valuation and profit decline.