Why is Parag Milk Foods falling/rising?

As of 22-Aug, Parag Milk Foods Ltd is experiencing a decline in its stock price, currently at 235.15, reflecting a decrease of 4.9 points or 2.04%. The stock has underperformed its sector today by 1.38% and has been on a consecutive downward trend for the last two days, resulting in a total drop of 4.24%. Despite a strong performance over the past year with an 18.61% return, the stock has seen a slight decline of 3.37% over the past month. Additionally, the stock's delivery volume has decreased by 17.88% compared to the five-day average, indicating falling investor participation. While the stock is trading at a discount compared to its peers and has attractive valuations, the recent price movement suggests some short-term challenges.
In the broader market context, Parag Milk Foods has outperformed the Sensex over the past week, gaining 10.87% compared to the benchmark's 0.88%. However, the recent decline in the stock price contrasts with its strong long-term performance, where it has generated a 24.91% return year-to-date and a remarkable 133.63% return over the past three years. The increase in institutional investor participation, with a 0.73% rise in their stake, indicates confidence in the company's fundamentals, which may provide some support against the current price decline. Overall, while the stock has shown resilience in the long term, the recent short-term performance reflects a combination of reduced trading activity and market pressures.