Why is Parag Milk Foods falling/rising?

As of 17-Jul, Parag Milk Foods Ltd is experiencing a price increase, currently at Rs. 251.15, which reflects a rise of Rs. 13.4 or 5.64%. The stock has recently hit a new 52-week high of Rs. 253.95 and has outperformed its sector by 5.54%. Over the past three days, the stock has gained 10.35%, and it is trading above all key moving averages, indicating strong upward momentum. Additionally, the company reported impressive quarterly results, with a significant growth in profit before tax and net sales, contributing to a favorable valuation compared to its peers. The stock's consistent performance over the past year, generating a return of 23.72% alongside a 31.1% increase in profits, further supports its positive outlook.
In the broader market context, Parag Milk Foods has outperformed the Sensex, which has seen a decline of 1.12% over the past week, while the stock itself has risen by 6.22%. This trend of outperformance is consistent, as the stock has shown a year-to-date increase of 33.41% compared to the Sensex's 5.27%. The rising investor participation, indicated by a 21.98% increase in delivery volume, suggests growing confidence in the stock, which is also supported by its attractive valuation metrics, such as a PEG ratio of 0.8. Overall, the combination of strong financial performance and favorable market conditions has contributed to the stock's upward movement.