Why is Parag Milk Foods falling/rising?

As of 09-Sep, Parag Milk Foods Ltd is experiencing a decline in its stock price, currently at Rs. 262.30, which reflects a decrease of Rs. 5.25 or 1.96%. The stock has recently hit a new 52-week high of Rs. 270.5 but has underperformed its sector by 2.49% today. After two consecutive days of gains, the stock has reversed its trend, touching an intraday low of Rs. 260.3. Despite this short-term decline, the stock has shown strong performance over the past year with a return of 41.78%, and its profits have increased by 23.4%. The stock is trading at a discount compared to its peers, and institutional investors have increased their stake, indicating positive sentiment towards the company.
In the broader market context, Parag Milk Foods has outperformed the benchmark Sensex significantly over various periods, including a 6.39% increase in the last week compared to the Sensex's 1.18%. This strong performance in the long term, coupled with rising institutional participation, suggests that while the stock is facing short-term fluctuations, its fundamentals remain robust. The liquidity of the stock is also favorable, with a significant increase in delivery volume, indicating continued interest from investors. Overall, the recent price movement appears to be a temporary adjustment rather than a reflection of underlying weaknesses in the company's performance.