Why is Parag Milk Foods falling/rising?

As of 29-Aug, Parag Milk Foods Ltd is currently priced at Rs 227.60, reflecting a decline of Rs 1.5 or 0.65%. The stock has underperformed its sector today by 1.04%, with an intraday high of Rs 234.35. Over the past week, the stock has decreased by 3.21%, and it has also seen a significant drop of 10.20% over the past month. Despite a strong year-to-date performance of 20.90% and a 18.45% increase over the past year, the stock's recent movement is influenced by a decrease in investor participation, as evidenced by a 14.93% drop in delivery volume compared to the five-day average. While the company has a favorable valuation with a return on capital employed (ROCE) of 11.8 and has seen an increase in institutional investor participation, concerns about long-term fundamental strength and a high debt-to-EBITDA ratio may be weighing on investor sentiment.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by 1.84% over the past week and 1.88% over the past month. Although Parag Milk Foods has outperformed the BSE500 in the long term, the current short-term underperformance relative to the sector and the benchmark indicates a challenging environment for the stock. The combination of falling investor participation and concerns regarding long-term growth prospects may be contributing to the stock's recent decline, despite its historical performance and attractive valuation metrics.