Why is Parag Milk Foods falling/rising?

As of 24-Jul, Parag Milk Foods Ltd is experiencing a slight increase in its stock price, currently at Rs. 253.90, reflecting a change of 0.35 or 0.14% upward. The stock has recently hit a new 52-week high of Rs. 261.1 and has outperformed its sector by 1.48%. Over the last two days, it has shown a consecutive gain, rising 4.34%. In terms of performance, the stock has delivered a return of 26.79% over the past year, significantly outperforming the BSE500 index, which has only seen a 2.54% increase. 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 positive sentiment around its stock.
In the broader market context, Parag Milk Foods has outperformed the Sensex, which has seen a decline of 0.09% over the past week, while the stock itself has gained 1.09%. This trend of strong performance is evident in the stock's returns over various periods, including a 34.87% increase year-to-date compared to the Sensex's 5.18%. However, it is important to note that there has been a decline in investor participation, with delivery volume falling by 12.12% against the 5-day average, which could indicate a potential concern for future trading activity. Nonetheless, the stock remains liquid enough for trades, suggesting that the overall market sentiment remains positive despite the slight drop in participation.