Why is Parag Milk Foods falling/rising?

As of 23-Jul, Parag Milk Foods Ltd is experiencing a price increase, currently at Rs 253.55, which reflects a rise of Rs 10.2 or 4.19%. The stock has shown strong performance today, having outperformed its sector by 4.69% and is only 1.76% away from its 52-week high of Rs 258. Over the past week, the stock has gained 6.65%, and it has delivered a remarkable 34.69% return year-to-date. Despite a recent trend reversal after two days of consecutive declines, the stock is trading above all its moving averages, indicating a bullish trend. However, there has been a decline in investor participation, with delivery volume decreasing by 4.97% against the five-day average. The company’s attractive valuation, with a return on capital employed (ROCE) of 11.8 and a PEG ratio of 1.1, further supports the stock's upward movement.
In the broader market context, Parag Milk Foods has significantly outperformed the benchmark Sensex, which has only increased by 0.11% over the past week, while the stock itself has risen by 6.65%. This trend of outperformance is consistent, as the stock has generated a return of 23.83% over the past year compared to the Sensex's 2.86%. The company has consistently delivered returns over the last three years, outperforming the BSE500 in each of the last three annual periods, which adds to investor confidence. Overall, the combination of strong recent performance, attractive valuation metrics, and consistent returns relative to the benchmark contributes to the stock's rising price.